Breaking News! Deal is Done! Verizon Buying Frontier Communications.

Published: Sep 04, 2024 Duration: 00:03:54 Category: Science & Technology

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smt Nation we are back and Nation we have the breaking story it's official Verizon has acquired Frontier Communications and now we know the official value all right so looking at the at the drop here from Reuters as they have the news I was also able to confirm this internally from uh Folks at Verizon uh with the deal valued at 20 billion a lot more than what was first being reported possibly a$7 billion deal I think what this means to me is they are acquiring everything that means the customers that means the Wireline assets that means access to polls that means you know every single aspect of the business and this is an all cash deal there is no stock compensation there are no shares involved in the deal so it kind of lets you know exactly uh what what this deal was in terms of valuation uh it says here the deal is expected to generate at least 500 million in annual run rate cost synergies so Verizon feels confident in that aspect of the deal uh Verizon has offered $38.50 per Frontier share held which represents a premium of 37.3% to frontier's closing price on September 3rd before reports of the potential acquisition emerged cuz I think at the time of the news breaking and the the leak of the story or whatever it was the Wall Street Journal publishing it the stocks popped like 38% literally like on the day on the news so it's official uh no need to speculate it's done deal uh that puts Verizon in I think an estimated two dozen states at least it might be 25 States the Verizon and their fiber now out west in some places Midwest they're in the South now so it's not just the Northeast you know and and the Eastern Seaboard along the Atlantic coast they are going to be across several States uh this is definitely a huge deal with that huge valuation they felt confident where their balance sheet is they needed to do this if they felt compelled to you know um puts them right in line with the aspirations of AT&T for fiber as a as a fiber player and nobody scaling 5G home internet with a dedicated Service as much as ryzen and this might actually I think encourage them to do more for for 5G home internet and then transition customers to fiber with FiOS or however they do the frontier piece or maybe they just start calling it Verizon fiber I don't know we'll actually see and I don't know how many customers are caught up in this um so we'll learn more as time comes uh this transition could take multiple years you never know um I I wouldn't expect anything to happen before next year uh but the closing of the deal you know definitely can happen very soon regulations are still in order but I don't think it's going to be stopped or or you know blocked or anything like that it just doesn't seem like that kind of environment and bryen has been playing very nice so I don't think regulars have been looking at them and saying oh we got to stop these guys um I would argue that maybe uh T-Mobile's been a little nasty in some ways and they might have Regulators watching them a bit uh but to be honest with you guys I don't I don't think this is going to get blocked it just doesn't seem like it it's all just a technicality at this point anyways just wanted to drop that news on you guys and let you know and make it official Verizon acquiring Frontier $20 billion all cash 25 states of fiber and uh and copper that probably needs to be upgraded uh this is a big transaction but drop me a line like share and subscribe turn on the Bell notifications icon to neveron upload support us the links are in the description thanks for watching we'll see you all in the next video

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