WASHINGTON, Sept. 2, 2015 /PRNewswire/ -- The Federal
Communications Commission today approved the proposed $10.54 billion sale of Verizon's local wireline
network assets and operations in California, Florida and Texas, to Frontier Communications.
The following statement should be attributed to Michael E. Glover, senior vice president and
deputy general counsel, Verizon public policy and government
affairs:
"We appreciate the FCC's thorough review and timely approval
which confirms that this transaction is in the public interest and
will benefit customers in California, Florida and Texas. Last May, the U.S. Department of
Justice also reviewed and cleared the proposed sale, further
confirming that the transaction does not present market competition
issues. With these approvals in hand, we look forward to promptly
receiving the remaining regulatory approvals in the coming
months."
The proposed sale of Verizon's wireline properties in
California, Florida and Texas, to Frontier Communications was
announced on February 5, 2015. The
companies anticipate completion of the transaction by the end of
the first quarter of 2016.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in
New York, employs a diverse
workforce of 178,500 and generated more than $127 billion in 2014 revenues. Verizon Wireless
operates America's most reliable wireless network, with 109.5
million retail connections nationwide. Verizon also provides
converged communications, information and entertainment services
over America's most advanced fiber-optic network, and delivers
integrated business solutions to customers worldwide. For more
information, visit www.verizon.com/news/.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive
speeches and biographies, media contacts and other information are
available at Verizon's online News Center at
www.verizon.com/news/. The news releases are
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www.verizon.com/about/rss-feeds/.
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SOURCE Verizon