Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network.
Verizon Communications Inc. said Thursday that the acquisition will also shore up its foray into artificial intelligence as well as connected smart devices.
Frontier has concentrated heavily on its fiber network capabilities over about four years, investing $4.1 billion upgrading and expanding its fiber network. It now gets more than half of its revenue from fiber products.
Lame. Frontier’s incompetent, but Verizon is pure evil. Bills will surely rise.
Also, Verizon sold it’s wireline assets to Frontier in 2016 and now is buying it back?
All part of the plan; frontier declared bankruptcy, got to restructure, lose a lot of its debt and less profitable arms(that are often essential like renegotiating union contracts, etc.). Now that all the dirty work is done, it helps Verizon’s books look better long term.
Isn’t capitalism without regulation or enforcement grand?