FYBR Stock Recent News

Verizon agreed to purchase rival telecommunications operator Frontier Communications for about $9.59 billion in a bid to expand its high-speed internet business. Verizon CEO Hans Vestberg provides details on the deal that he expects to take 18 months to close.

MILWAUKEE , Sept. 5, 2024 /PRNewswire/ -- Ademi LLP is investigating Frontier (Nasdaq: FYBR) for possible breaches of fiduciary duty and other violations of law in its transaction with Verizon.

Shares of Frontier Communications (FYBR) are tumbling 10% in premarket trading after Verizon Communications (VZ) said it plans to buy the fiber network company for $20 billion in cash.

Verizon CEO Hans Vestberg joins 'Squawk Box' to discuss the company's acquisition of Frontier Communications, what's behind the $20 billion deal, impact of the deal on Verizon's premium broadband services, and more.

Some major consolidation is afoot in the world of internet communications — and it will have implications for competition and consumer internet access in U.S. On Thursday, Verizon announced that it would gobble up Frontier Communications for $20 billion — more than double Frontier's market cap at the close of trading the night before.

Verizon says the deal will expand its fiber footprint, but analysts expect big gaps in the fiber coverage network even after the acquisition closes.

Verizon will acquire Frontier for $38.50 a share in cash.

Verizon said on Thursday it would buy Frontier Communications in a deal valued at $20 billion, as the U.S. wireless carrier looks to boost its fiber network.

Shares of Frontier Communications (FYBR) jumped nearly 40% on Wednesday after The Wall Street Journal said the fiber network company was in talks about a possible sale to Verizon Communications (VZ).

An announcement that Verizon Communications is acquiring Frontier could come this week, according to the Wall Street Journal report.