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Verizon ( (VZ) ) has issued an update.
Verizon Communications Inc. has announced an all-cash deal to acquire Frontier Communications for $20 billion, a strategic move that will significantly expand Verizon’s fiber footprint and accelerate its premium mobility and broadband services. The deal is expected to be financially beneficial, accretive to revenue and EBITDA growth, and offers significant cost synergies. Verizon’s CEO emphasized the alignment with Verizon’s core strategy and the enhancement of customer choice, as well as the ability to build deeper customer relationships. The acquisition positions Verizon to offer an unmatched combination of mobility and broadband services, reinforcing its unique market position.
See more insights into VZ stock on TipRanks’ Stock Analysis page.