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Broadband

Verizon to buy XO fibre network business for USD 1.8 bln

Monday 22 February 2016 | 15:49 CET | News
Verizon has agreed to buy XO Communications' fibre-optic network business for USD 1.8 billion. The deal gives Verizon access to XO's fibre-based IP and Ethernet networks to serve business and wholesale customers as well as boost backhaul for its mobile network. In addition, Verizon will lease XO's wireless spectrum, with an option to buy that spectrum by the end of 2018. Pending regulatory approval, the companies expect to close the deal in the first half of 2017. XO was saved from bankruptcy by Carl Icahn in 2003, and he is the sole shareholder of the parent company XO Holdings. Icahn said

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Categories: Fixed
Companies: Verizon / XO Communications / XO Holdings
Countries: United States
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