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VZ » Topics » and Target Increased Broadband Penetration

This excerpt taken from the VZ 8-K filed May 13, 2009.

and Target Increased Broadband Penetration

NEW YORK – In a move that will further accelerate the company’s focus on wireless, broadband and global IP, Verizon Communications Inc. (NYSE:VZ) today announced plans to divest its local wireline operations serving residential and small-business customers in predominantly rural areas in 14 states and that these operations will be acquired by Frontier Communications (NYSE:FTR).

The transaction is expected to strengthen Frontier’s position as a premier rural communications provider and return a total value of $8.6 billion to Verizon and its shareholders, as Verizon continues to transform its growth profile and asset base around the fastest-growing

Verizon News Release, Page 2

 

parts of its business: wireless, fiber-based wireline (FiOS) and global IP (Internet protocol) networks.

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