Verizon Landline Assets Sold to Frontier in Multi-Billion Dollar Deal
February 5, 2014
Today, Verizon Communications Inc. announced that they will be selling their landline assets to Frontier Communications Corp. for $10.5 billion. In another deal also disclosed today, they agreed to lease 11,300 their cellular towers to American Tower Corp., who will also purchase about 165 Verizon towers, for a total upfront payment of approximately $5 billion.
As part of the deal, Verizon stated about 11,000 employees will move to Frontier.
For the whole article from Bloomberg, please Click Here.
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