I thought VZ sold off Fios, Landline etc in 2015 2016 in certain areas like Ca, Fl and Tx for like 10.5 mil!
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We also sold off lines in 14 States to Frontier in 2009 (closed in 2010 I think) for 8.6Bill & handed them another 3.3Bil in debt to go with it. Between the two deals we handed off over 1.7mil FIOS customers... and are now getting 2.2 mil FIOS customers back. Apparently they only managed to add another 500k to their network during all that time, and a small portion of the 500k would include the small fios network they had already started before we handed them some of ours in 2010.
No idea, why VZ would want all this copper back, unless the plan is to spin off all the copper to someone like Brightspeed, & keep all the FIOS.
Also I find it interesting that yesterday the Wall Street Journal thought VZ was going to be paying $7bil... and today we find out it's actually $20bill... and a 40%+ premium to Frontier's previous share price. Atta Boy Hans... way to shaft VZ shareholders & overpay for something... yet again.
"Sept. 4, 2024 — The Wall Street Journal is reporting today that Verizon is on the verge of buying Frontier Communications for as much as $7 billion in a deal that could be announced this week."
Stratton would blow the swedish meatball out of the water as CEO.
With small cells we could finally put that MM wavelength to good use.
They could have bought Crown Castle for half that. And they are all fiber and over 100K+ small cells that are great for 5G FWA.
why is verizon buying frontier? for there fiber network ? they have 27 or 31 states but have very little fiber run ,fl,tx,ca,in only a very small portion of those states and thats the fiber that we put in before we sold it .frontier has alot of dsl in most of their territory,BUT why would you want to buy it back ,for the fi er network which is slim to none or start rling out fiber which will take years and years to do ..really lets just add more to the DEBT
So John Stratton (frontier exec chairman) and Kevin Beebe (former Alltel executive) are going to sell to Hans and cash out? Or step back into management? John has 2 million shares.
Does anyone else remember before Verizon in FL…
GTE had a product called MainStreet that was one of the first interactive TV services
You could play free games using the TV remote and win stuff like a frisbee or T-Shirt lol
Landline is where it's at.
I hear ftr mgmt turned their ship around. Do they become new mgmt of vz?
Would be Hans' smartest move.
Selling to Frontier allowed them to declare bankruptcy and shed billions in debt. Now they buy it back on the cheap. 5G Home is a useless product, so bring back the fiber.
I know Florida was all fiber before we sold it to Frontier, just ridiculous that we are going back to it. It should have never been sold.
An all cash deal apparently.....when did we have money?
They do have copper plant. But I do see this as a major positive moving towards winning market share of wireless and wireline. Leadership made it clear we focused heavily on large metropolitan areas but we lagged in rural coverage. This acquisition will bolster our coverage of fios and give us a rural network to connect more wireless sites. I like this move.
If they really do, they are running out of ideas. But not sure why they will do that if they are selling all cell towers.
Should be Billion not Million but don’t know how to edit!
Not sure I understand the reasoning. Don’t they have a ton of copper also?