By Investing.com — Verizon is reportedly in talks to buy fiber provider Frontier Communications (OTC:FTRCQ) (NASDAQ:FYBR) as the telecoms giant looks to close the gap on rivals including AT&T (NYSE:T), the Wall Street Journal reported Wednesday, citing people familiar with the matter.
If the talks don’t hit any last-minute snags, confirmation of the deal could come as soon as this week, the sources told the Journal. With a market cap of over $7 billion, Frontier could fetch a sizable price tag.
Frontier Communications jumped 8%, while Verizon Communications Inc (NYSE:VZ) fell 2.7%.
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