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.

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