Verizon Nearing Deal for Frontier Communications
Deal for Dallas-based fiber provider could be announced this week
Verizon VZ -1.19%decrease; red down pointing triangle is in advanced talks to acquire Frontier Communications FYBR 8.38%increase; green up pointing triangle in a deal that would bolster the company’s fiber network to compete with rivals including AT&T, according to people familiar with the matter.
An announcement could come this week, granted the talks don’t hit any last-minute snags, the people said.
A deal would be sizable, given Frontier’s market value of over $7 billion.