The California Public Utilities Commission granted final approval for Verizon Communications’ acquisition of Frontier Communications on January 15, 2026, clearing the last state‑level regulatory hurdle for the $20 billion deal. The approval paves the way for a closing scheduled for January 20, 2026, after which Frontier’s shares will be delisted from Nasdaq on January 16.
Verizon’s purchase is part of a broader strategy to expand its fiber footprint nationwide and to combine Frontier’s extensive fiber network with Verizon’s 5G mobile infrastructure. The company expects to generate at least $500 million in annual run‑rate cost synergies, while the acquisition will enable bundled fixed‑and‑mobile broadband offerings that can accelerate customer acquisition and cross‑sell opportunities.
The CPUC approval came with several conditions designed to protect consumers and support public policy goals. Verizon committed to expanding affordable voice and broadband options for low‑income customers and California Lifeline participants, investing in broadband reliability, engaging tribal communities, and partnering with the California State University system for a $10 million initiative. The company also pledged $500 million in spending with California small businesses over five years and addressed diversity, equity, and inclusion concerns that had been raised during earlier reviews.
Frontier has been undergoing a significant turnaround, focusing on fiber deployment while managing a substantial debt load. The company’s revenue is increasingly driven by fiber services, which now account for more than half of its top line. Verizon’s acquisition is expected to provide the capital and scale needed to accelerate Frontier’s network expansion and improve its financial position.
Frontier’s stock rose 0.3% following the CPUC approval, reflecting investor confidence that the deal will close as planned and that shareholders will receive the agreed‑upon purchase price. The modest market reaction underscores the importance of regulatory certainty in completing large M&A transactions.
Verizon CEO Dan Schulman said the acquisition marks a “significant milestone in Verizon’s evolution” and will “provide more value to more households and businesses” by expanding the company’s nationwide fiber and mobile broadband capabilities.
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