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Frontier to Buy Verizon Lines for 5.3 Billion in Stock
Frontier Communications to acquire Verizon's phone lines in 12 states plus some California assets for 5.3 billion in Frontier stock. Verizon will receive about 4.2 Frontier shares per 4.2 Verizon shares. Frontier plans to expand rural voice broadband and video services while trimming its dividend to fund growth.
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