On Thursday, Shares of Frontier Communications Corporation (NASDAQ:FTR), surged 5.95% to $5.52.
Frontier Communications applauded recent decision by the Federal Communications Commission (FCC) approving its projected acquisition of Verizon’s wireline, broadband and video operations, counting the FiOS® network, in California, Florida and Texas. The company is presently also seeking approval from the California Public Utilities Commission and the Public Utilities Commission of Texas, and has received Hart-Scott-Rodino federal antitrust clearance. Pending commission approval in Texas and California, the company anticipates closing the transaction at the end of the first quarter of 2016.
Daniel J. McCarthy, Frontier’s President and Chief Executive Officer said, “We are happy the FCC moved swiftly and smartly to approve this acquisition, releasing an Order in advance of the FCC’s internal deadline for review of such transactions. The FCC views this transaction as being in the public interest and benefiting customers in the three attained states. We agree, and believe it will further benefit those across the rest of the Frontier footprint as well. By doubling our size, we will add scale and scope to our operations, strengthen our product and service offerings, and improve the customer experience. We look forward to demonstrating our commitment to broadband investment and deployment in California, Florida and Texas. Soon, consumers and businesses in these states will benefit from our extensive experience, our high-touch local engagement administration model, the focused use of the fiber-rich network, and our active involvement in the communities we serve.” McCarthy added, “Our aim is to deliver the life-changing benefits of broadband to an additional 750,000 households at speeds of 25Mbps/2-3Mbps across the entire Frontier multi-state footprint, counting California, Florida, and Texas, by the end of 2020.”
Frontier will offer California, Florida and Texas customers the company’s full portfolio of products and services, counting broadband services, wireline local and long distance phone service, video viewing options, and innovative products and services such as Frontier Secure, an industry-leading digital security offering that provides customers with top-rated online computer and personal identification protection and 24/7 premium technical support in addition to hard drive backup. FiOS customers in these markets will continue to receive the same products and services they have come to enjoy under the FiOS brand name.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of SeaDrill Limited (NYSE:SDRL), declined -2.02% to $7.26, during its last trading session.
Seadrill Limited has settled a Total Return Swap agreement (TRS) expiring on September 3, 2015 with 4,000,000 common shares in Seadrill Limited as underlying security. Seadrill has subsequently reached a new TRS agreement with exposure to 4,000,000 Seadrill Limited common shares. The expiry date for the new TRS is December 3, 2015 and the reference price is NOK62.80222 per share.
Seadrill presently has a holding of 318,740 of its own treasury shares.
This information is subject of the disclosure requirements following section 5-12 of the Norwegian Securities Trading Act.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments. The Floaters segment provides drilling, completion, and maintenance services for offshore exploration and production wells.
Finally, Windstream Holdings, Inc. (NASDAQ:WIN), ended its last trade with -2.13% loss, and closed at $7.83.
Bob Gunderman, chief financial officer of Windstream Holdings will speak at 2:00 p.m. CDT on Thursday, September 10, at the Bank of America Merrill Lynch 2015 Media, Communications & Entertainment Conference in Beverly Hills, California.
Windstream Holdings, Inc. provides communications and technology solutions in the United States. It offers managed services and cloud computing services to businesses, in addition to broadband, voice, and video services to consumers primarily in rural markets.
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