California set to approve Verizon acquisition of Frontier

Reuters01-16

Jan 15 (Reuters) - The California Public Utilities Commission is set on Thursday to approve Verizon Communications's (VZ.N)$20 billion deal to acquire fiber-optic internet providers Frontier Communications (FYBR.O) after a series of conditions agreed to by the U.S. telecom company, board members said.

Verizon won approval from the Federal Communications Commission in May after the company agreed to end its diversity, equity and inclusion programs, which raised concerns from California. Verizon agreed to buy Frontier in September 2024 for about $9.6 billion and absorb $10 billion in Frontier debt. Verizon expects to upgrade and expand Frontier’s existing network in 25 states and deploy fiber to 1 million or more American homes annually.

(Reporting by David Shepardson in Washington)

((Email David.Shepardson@thomsonreuters.com 202-579-6093))

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