Verizon said it entered into an Agreement and Plan of Merger with Frontier Communications Parent, Inc. and France Merger Sub Inc. on September 4, 2024, under which Merger Sub will merge into Frontier, with Frontier surviving as the surviving corporation.

1. 01

   Verizon said it entered into an Agreement and Plan of Merger with Frontier Communications Parent, Inc. and France Merger Sub Inc. on September 4, 2024, under which Merger Sub will merge into Frontier, with Frontier surviving as the surviving corporation.

2. 02

   The company said that during the Goldman Sachs conference, the moderator referred to the Frontier acquisition as $20 billion and to nearly 30 million fiber passings upon completion of the deal in 2026. The company said it corrected the fiber passings figure to 27 million to 28 million.

3. 03

   The company said more than 55% of Frontier's revenue comes from fiber and that Frontier already has 7 million passings. It also said the acquisition is accretive from the day of closing to revenue growth and EBITDA, and about 1 years later to EPS and cash flow.

4. 04

   The company said the Frontier acquisition does not change its fixed wireless access (FWA) strategy, and that it has well over 3 million FWA customers. It also said it will come back to the market to discuss its overall broadband strategy when it reaches 4 million to 5 million FWA customers.

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Original filing

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