Verizon-Frontier: Ohio Approves Sale With Provisions

Regulators in Ohio have blessed the sale of Verizon Communications Inc.’s (VZ) landline sale to Frontier Communications Corp. (FTR)

Most of the lines are located in rural areas of 14 states.

Ohio is the fourth state to approve the $8.6 billion deal. The Buckeye State will be Frontier’s fifth-largest customer base now that the service provider has agreed to deploy broadband in 85 percent of Verizon’s Ohio service area by the end of 2013.

“Extending broadband reach and penetration is critical to revitalizing communities, improving business productivity and giving consumers faster access to the resources of the Internet,” said Frontier COO Dan McCarthy in a prepared statement.”

Frontier also will cap basic local phone rates until that threshold is reached.

The FCC and several state regulators have yet to approve the deal, which Frontier expects to close in the second quarter.

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