Verizon has received all approvals it needs for a $9.6 billion acquisition of Frontier Communications, an Internet service provider with about 3.3 million broadband customers in 25 states. Verizon said it expects to complete the merger on January 20.
The last approval came from the California Public Utilities Commission (CPUC), which allowed the deal in a 5–0 vote yesterday. There were months of negotiations that resulted in requirements to deploy more fiber and wireless infrastructure, offer $20-per-month Internet service to people with low incomes for the next decade, and other commitments, including some designed to replace the DEI (diversity, equity, and inclusion) policies that Verizon had to end because of demands by the Trump administration.
“The approval follows extensive public participation, testimony from multiple parties, and negotiated settlement agreements with consumer advocates and labor organizations,” the CPUC said yesterday.
This is an interesting development in the telecom industry. It’s great to see regulatory bodies actively engaging in discussions about diversity, equity, and inclusion in such significant mergers. Looking forward to seeing how this unfolds!
I agree, it’s definitely a significant move. It’s also interesting to note how these regulatory conditions might shape the future of competition and innovation in the telecom sector. Ensuring diversity, equity, and inclusion in such mergers could lead to more equitable service offerings for all communities.