Verizon closes in on deal for Frontier Communications: WSJ

Investing.com -- Verizon is reportedly in talks to buy fiber provider Frontier Communications (OTC:FTRCQ ) as the telecoms giant looks to close the gap on rivals including AT&T (NYSE:T ), the Wall Street Journal reported Wednesday, citing people familiar with the matter. 

If the talks don’t hit any last-minute snags, confirmation of the deal could come as soon as this week, the sources told the Journal. With a market cap of over $7 billion, Frontier could fetch a sizable price tag.

Frontier Communications Parent Inc (NASDAQ:FYBR ) jumped 8%, while Verizon Communications Inc (NYSE:VZ ) fell 2.7%. 

 

 

 

Source: Investing.com