BUZZ-Verizon lower after report says telecom firm nearing deal for Frontier Communications
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Verizon Communications’shares fall 3.8% to $41.28Frontier Communications’shares rise 27.8% to $35.88Verizon is in advanced talks to acquire Frontier Communications in a deal that would boost its fiber network, the Wall Street Journal reports, citing people familiar with the matterFrontier Communications valued at nearly $7 bln as of last closeAnnouncement could come this week, if the deal talks do not hit any last-minute snags - WSJUp to last close, Verizon shares up ~14% and Frontier up ~11% YTD
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