STAMFORD, Conn. -- Frontier Communications Corp. has agreed to purchase AT&T’s wireline business and statewide fiber network, which provides services to residential, commercial and wholesale customers in Connecticut, in a $2 billion transaction.
Frontier will also acquire AT&T’s U-verse video and satellite TV customers in Connecticut. Frontier will pay AT&T $2 billion in cash for the business and related assets.
“We are excited to be acquiring AT&T’s wireline operating company in Connecticut, where our company has been headquartered since 1946,’’ said Maggie Wilderotter, Frontier’s chairman and chief executive officer. “This is a great opportunity to bring to Connecticut Frontier’s portfolio of products and services."
U.S. Sen. Richard Blumenthal, D-Conn., offered some concerns about the deal.
“While this deal may be good for AT&T and Frontier, I want to make sure it is right for consumers,'' Blumenthal said. "I look forward to reviewing what it means for the people of Connecticut, and I will fight to make sure their interests are protected as DOJ and the FCC review this transaction."
Frontier will be required to file with the U.S. Department of Justice, Federal Communications Commission, and Connecticut Public Utilities Regulatory Authority to ensure the deal doesn’t violate antitrust regulations.