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Verizon Sheds Landlines in 14 States
NEW YORK -- Verizon Communications(VZ Quote) said it has reached a deal to shed its traditional telephone line business in 14 states in a deal worth $8.6 billion.
Frontier Communications(FTR Quote), based in Stamford, Conn., will be taking over the Verizon's assets in an all-stock deal, the companies say.
The deal gives Frontier 4.8 million access lines to residential and small business customers and narrows Verizon's focus on wireless, broadband and Internet service. ...
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