California set to approve Verizon acquisition of Frontier
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The California Public Utilities Commission is poised to approve Verizon's $20 billion acquisition of Frontier Communications. This follows Verizon's agreement to certain conditions, including the termination of its diversity programs, which had raised concerns. The deal, initially announced in September 2024, involves Verizon purchasing Frontier for approximately $9.6 billion and taking on $10 billion in debt. Verizon plans to enhance Frontier's network across 25 states and aims to deploy fiber to over 1 million homes annually.
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