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Verizon Puts Up $1.8B for XO’s Fiber Business - Broadcasting & Cable

Verizon Puts Up $1.8B for XO’s Fiber Business

Deal for Icahn-backed XO unit to shore up Verizon’s enterprise biz
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Verizon Communications said Monday that it has inked a $1.8 billion deal to acquire XO Communications’ fiber-optic network business.

Tied into the deal, Verizon will also simultaneously lease available XO wireless spectrum, with an option to buy XO’s entity that holds its spectrum, by the end of 2018.

Verizon said the fiber-facing part of the deal will enable it to better serve enterprise and wholesale customers, and to add density to its cellular network.

For the full story go to Multichannel.com.

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