Frontier seeks to raise $2.5B to fund Verizon wireline purchases

Frontier Communications has launched a $450 million offering of its shares, and an offering of $1.75 billion of its preferred stock, all in an effort to raise $2.5 billion in cash for its proposed purchase of Verizon's wireline assets. As FierceTelecom points out, Frontier will grant a green shoe option of up to $75 million more worth of shares and up to $175 million more worth of mandatory convertible preferred stock for the action. You can read the full FierceTelecom summary of Frontier's financial moves here.

Suggested Articles

For now, it looks like Netflix and everyone else still have space to grow.

Flex, which Comcast recently made free for its subscribers, is a lot like X1 but not centered on Comcast’s linear video product.

After a war of words, AT&T and Sinclair have reached a new comprehensive carriage agreement covering DirecTV, AT&T TV and U-verse.