Texas PUC Approves Transfer of Verizon Southwest CLEC Certificate to Frontier Communications
12 September 2015 - 7:45AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150911005906/en/
Frontier Communications:Steve Crosby,
916-686-3333steven.crosby@ftr.comorBrigid M. Smith,
203-614-5042brigid.smith@ftr.com
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