Frontier Comm CEO: Proven track record of integration - WSJ.com
May 13, 2009
Frontier Communications Corp. (FTR) has a proven track record of integration, and should be able to quickly absorb Verizon Communications Inc.'s (VZ) rural assets, according to Frontier Chief Executive Maggie Wilderotter.
While the deal is structured as a tax-free spin-off and merger, Frontier will have to raise roughly $3.3 billion in funds through a debt offering, the proceeds of which will be paid to Verizon. Even though Frontier is raising debt, the acquisition of Verizon's assets allows the company to approach investment grade rating, she said during a conference call on Tuesday...
Frontier Communications Corp. (FTR) has a proven track record of integration, and should be able to quickly absorb Verizon Communications Inc.'s (VZ) rural assets, according to Frontier Chief Executive Maggie Wilderotter.
While the deal is structured as a tax-free spin-off and merger, Frontier will have to raise roughly $3.3 billion in funds through a debt offering, the proceeds of which will be paid to Verizon. Even though Frontier is raising debt, the acquisition of Verizon's assets allows the company to approach investment grade rating, she said during a conference call on Tuesday...
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