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Ohio PSC OKs Frontier-Verizon deal

The Ohio Public Service Commission has put its stamp of approval on Frontier Communications Corp.’s acquisition of Verizon Communications Inc. access lines in the Buckeye State.

Frontier and Verizon inked a deal in May for Frontier to acquire Verizon’s regulated local exchange and landline business in 14 states. Verizon shareholders are to get an undetermined number of Frontier shares in return.

The acquisition would make Frontier the country’s largest rural telecommunications carrier with some 4 million access lines. Ohio is the fourth state to OK the deal.

Verizon would be shedding what has been a shrinking line of business as landline customers continue to migrate to wireless service.

Frontier chairman and CEO Maggie Wilderotter has touted the acquisition as a boost for Frontier, stating Frontier expects to add customers by providing broadband and video to regions where Verizon has not offered those alternatives.
              
(c) 2010 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail
rbj@rbj.net.
 

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