Activist Jana calls on Frontier Communications to explore sale, Reuters reports

Activist investment firm Jana Partners has built a new position in Frontier Communications and is calling on the fiber broadband provider to sell itself, reported Reuters’ Svea Herbst-Bayliss. Frontier’s depressed valuation and strong position in the fiber broadband sector would make it an attractive asset for wireless carriers and private equity-owned assets in the sector, as well as for infrastructure and private equity funds, Jana’s managing partner Scott Ostfeld said while presenting at the 13D Monitor Active-Passive Investor Summit, the report noted. Shares of Frontier Communications are up about 3.5% in afternoon trading.