The United States Federal Communications Commission (FCC) approved on Friday a merger deal between Verizon Communications Inc. and Frontier Communications Parent, Inc., valued at $20 billion. In a statement, the FCC shared that it concluded the proposed transaction "will serve the public interest, convenience, and necessity."
"By approving this deal, the FCC ensures that Americans will benefit from a series of good and commonsense wins. The transaction will unleash billions of dollars in new infrastructure builds in communities across the country—including rural America. This investment will accelerate the transition away from old, copper line networks to modern, high-speed ones," FCC Chairman Brendan Carr said.
With this deal, Verizon will be able to upgrade and expand Frontier's existing network in 25 states.
