Verizon announced plans to acquire Frontier Communications for $20 billion in an all-cash deal, aiming to strengthen its fiber network. Frontier’s nearly 2 million fiber subscribers will combine with Verizon’s nearly 7 million FiOS connections. The acquisition will allow Verizon to compete more effectively against AT&T and expand into new markets. Verizon expects $500 million in annual cost savings and increased revenue.
