Frontier Communications Shares Surge 38% Amid Talks of Verizon Acquisition

Frontier Communications (FYBR) experienced a remarkable 38% increase in its stock price on Wednesday after The Wall Street Journal revealed that the fiber network provider is engaged in discussions regarding a potential acquisition by Verizon Communications (VZ).

According to sources familiar with the matter, the deal could be finalized and announced by the end of the week, although no specific price details have been disclosed.

Following the news, Frontier's market capitalization surged to approximately $9.6 billion, reflecting strong investor confidence. The stock closed at $38.68, marking an impressive 52% gain for the year so far. Meanwhile, Verizon's shares declined by 3.4% on the same day.

If you have news tips for our reporters at ZAMONA, please contact us at tips@zamona.net.

Explore useful articles in Company News as of 02-07-2024. The article titled " Frontier Communications Shares Surge 38% Amid Talks of Verizon Acquisition " offers in-depth analysis and practical advice in the Company News field. Each article is carefully crafted by experts to provide maximum value to readers.

The " Frontier Communications Shares Surge 38% Amid Talks of Verizon Acquisition " article expands your knowledge in Company News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.