NORWALK, Conn.--(BUSINESS WIRE)--
Frontier Communications Corporation (NASDAQ:FTR) a leading provider of
communications services throughout 28 states, announced that the Public
Utility Commission of Texas today voted to approve the transfer of
Verizon Southwest’s CLEC certificate to Frontier Communications. This is
the only state regulatory approval needed in Texas regarding Frontier’s
proposed acquisition of Verizon's wireline networks in
California, Florida and Texas and follows the Federal Communications
Commission’s recent approval of the transaction.
"We are pleased to receive this latest vote of approval," said Kathleen
Abernathy, Executive Vice President, External Affairs for Frontier. "We
anticipate that the transaction will close at the end of the first
quarter of 2016 and we look forward to providing excellent products and
services to customers in Texas, California and Florida. We continue to
participate in the regulatory review process in California.”
Frontier will offer California, Florida and Texas customers its full
portfolio of products and services, including broadband services,
wireline local and long distance phone service, video viewing options,
and innovative products and services such as Frontier Secure. FiOS®
customers in these markets will continue to receive the same products
and services they have come to enjoy under the FiOS brand name. In
addition, the company has committed to delivering broadband to an
additional 750,000 households at speeds of 25Mbps/2-3Mbps across
Frontier’s 28-state footprint, including California, Florida and Texas,
by the end of 2020.
About Frontier Communications
Frontier Communications Corporation (NASDAQ:FTR) offers broadband,
voice, video, wireless Internet data access, data security solutions,
bundled offerings, specialized bundles for residential customers, small
businesses and home offices and advanced communications for medium and
large businesses in 28 states. Frontier's approximately 18,200 employees
are based entirely in the United States. More information is available
at www.frontier.com.
Forward-Looking Statements
This document contains "forward-looking statements," related to future,
not past, events. Forward-looking statements address our expected future
business and financial performance and financial condition, and contain
words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek," "see," "will," "would," or "target." Forward-looking statements
by their nature address matters that are, to different degrees,
uncertain. These risks and uncertainties include, but are not limited
to: Frontier’s ability to complete the acquisition of Verizon’s
California, Florida and Texas wireline operations, including the ability
to complete the financing of the acquisition; the ability to
successfully integrate the acquired operations into Frontier’s existing
operations; the sufficiency of the assets to be acquired from Verizon to
enable the combined company to operate the acquired business; the
ability to enter into or obtain, or delays in entering into or
obtaining, certain agreements and consents necessary to operate the
acquired business as planned; the ability to obtain, delays in obtaining
or adverse conditions contained in any required regulatory approvals for
the Verizon transaction; and the other factors that are described in our
filings with the U.S. Securities and Exchange Commission, including our
reports on Forms 10-K and 10-Q. These risks and uncertainties may cause
our actual future results to be materially different than those
expressed in our forward-looking statements. We do not undertake to
update or revise these forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150911005906/en/
Frontier Communications:
Steve Crosby, 916-686-3333
steven.crosby@ftr.com
or
Brigid
M. Smith, 203-614-5042
brigid.smith@ftr.com
Source: Frontier Communications Corporation