Stefan Mileschin

Verizon is acquiring Frontier for $20 billion, the provider announced one day after reports emerged that the two companies were in talks. The deal will expand Verizon's fiber network across the United States, allowing it to better compete with its rival, AT&T. Frontier will add 2.2 million fiber subscribers in 25 states, extending Verizon's reach to about 10 million customers in 31 states and Washington, DC. 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.

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