Frontier Communications (NASDAQ: FTR ) has unloaded its stake in regional telecom service provider Mohave Wireless. The buyer is Verizon (NYSE: VZ ) and Vodafone's (NASDAQ: VOD ) Verizon Wireless. The financial terms of the deal were not disclosed.
Frontier had held a one-third partnership interest in Mohave, in conjunction with Verizon Wireless. The latter is now sole owner of the company.
Mohave operates in northwest Arizona. Frontier quoted its EVP Revenue Development Melinda White as saying of the region that it "has grown steadily due to the popularity of Lake Havasu City as a resort, Bullhead City for gaming and Kingman as a business and retirement destination."
More Expert Advice from The Motley Fool When it comes to dividend yields, you won't find many higher than Frontier Communications. While its juicy dividend is tempting, every Frontier investor has to understand that it's not a sure thing. A huge acquisition has transformed the company forever. Will the move bear fruit, or are investors destined for another disappointing dividend cut? In this premium research report on Frontier Communications, we walk you through all of the key opportunities and threats facing the company. Better yet, you'll receive a full year of updates to boot. Click here to learn more.
No comments :
Post a Comment