Although it was AT&T's CEO that said We are a Wireless company, it is the actions of Verizon that make you stand up and take note. Today, VZ reached a deal with Frontier - a $8.6B all-stock deal. As Frost & Sullivan analyst Vanessa Alvarez tweets, "$VZ and Frontier will create company called Spinco, $VZ will still own 68%." It looks like another Fairpoint deal. The only happy camper is VZ. It gets richer, rids itself of responsibilities, and screws the consumers by leaving them with a rotting network and a financially burdened phone company. Where are th eregulators in all of this??
"The deal includes all of Verizon's wireline assets in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin as well as some assets in California." [Yahoo]
Marketwatch announced that "Frontier will be merged with a separate, newly formed entity known as SpinCo, which will be spun off to Verizon's shareholders. ...SpinCo will carry approximately $3.3 billion of debt consisting of a combination of newly issued debt as well as assumed debt. Verizon will receive about $3.3 billion of cash or debt relief."
Looks to me like another Fairpoint deal. Ask New England subscribers how they feel.
"The deal includes all of Verizon's wireline assets in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin as well as some assets in California." [Yahoo]
Marketwatch announced that "Frontier will be merged with a separate, newly formed entity known as SpinCo, which will be spun off to Verizon's shareholders. ...SpinCo will carry approximately $3.3 billion of debt consisting of a combination of newly issued debt as well as assumed debt. Verizon will receive about $3.3 billion of cash or debt relief."
Looks to me like another Fairpoint deal. Ask New England subscribers how they feel.
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