NSR policy: Will the Government Allow Verizon to Buy Frontier?
There are news reports that Verizon is in advanced talks to purchase Frontier. Our New Street colleagues have provided financial analysis of a potential deal and how this could spark a wave of wireless/wired convergence transaction. In this note, we provide background to assist in evaluating the prospects for the government’s antitrust and regulatory review of the transaction, if such a transaction were to occur. As we discuss, we think it is likely to be approved, though (particularly if Democrats stay in charge) it will be subject to conditions, and in addition, it raises novel issues related to wireless/wired competition that will be relevant for other transactions.
Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.
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