May 12, 2015

Frontier gets FTC’s okay for Verizon deal

Stamford's Frontier Communications, which has offered landline, television and Internet services across the state since last year, said the Federal Trade Commission has decided Frontier's intended acquisition of Verizon assets in three states does not merit further antitrust review.

The FTC this week granted early termination of a required waiting period under the Hart-Scott Rodino Antitrust Improvements Act for Frontier's proposed $10.54 billion acquisition of Verizon's wireline assets in California, Florida and Texas.

Frontier and Verizon first announced the deal in February.

Frontier still needs approval from the Federal Communications Commission, and said it hopes to close the deal in the first half of 2016.

The assets Frontier wants to buy generated more than $5.7 billion in revenue in 2014.

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