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Thursday, February 5, 2015

Frontier to purchase Verizon wireline assets for $10.54 bln, (NASDAQ: FTR)

Frontier Communications Corp will purchase Verizon Communications Inc's wireline operations in three U.S. states for $10.54 billion in cash, the regional telephone operator said on Thursday. The properties in California, Florida and Texas will include 3.7 million voice connections, 1.2 million FiOS video connections and 2.2 million broadband connections, Frontier said in a statement.

Frontier Communications Corporation is a communications company. Shares of FTR traded higher by 5.77% or $0.42/share to $7.70. In the past year, the shares have traded as low as $4.46 and as high as $7.54. On average, 8948460 shares of FTR exchange hands on a given day and today's volume is recorded at 35803056.