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Verizon will buy Frontier for $20 billion to expand its fiber network

The all-cash deal comes one day after rumors began.

Verizon is acquiring Frontier for $20 billion, the provider announced one day after reports emerged that the two companies were in talks. Verizon has experienced slowing revenue, and acquiring Frontier could give it the boost it needed in less time than it would take to expand its own network. The company declared Chapter 11 bankruptcy in 2020 and pivoted to a "leaner business" but faced concerns about emptying its bank account before finishing ongoing upgrades.

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