California set to approve Verizon acquisition of Frontier

Jan 15 (Reuters) - The California Public Utilities Commission is ​set on Thursday to ‌approve Verizon Communications's (VZ.N) $20 billion deal ‌to acquire fiber-optic internet providers Frontier Communications (FYBR.O) after a series of conditions agreed to ⁠by the ‌U.S. telecom company, board members said.

Verizon won ‍approval from the Federal Communications Commission in May after the company ​agreed to end its ‌diversity, equity and inclusion programs, which raised concerns from California. Verizon agreed to buy Frontier in September 2024 ⁠for about $9.6 billion ​and absorb $10 billion ​in Frontier debt. Verizon expects to upgrade and expand ‍Frontier’s ⁠existing network in 25 states and deploy fiber to ⁠1 million or more American ‌homes annually.

(Reporting by David Shepardson ‌in Washington)