Verizon to buy XO Communications' fiber-optic business

Reuters News
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Posted: Feb 22, 2016 9:22 AM

(Reuters) - The No-1 U.S. wireless phone provider Verizon Communications Inc said it would buy XO Communications' fiber-optic network business for about $1.8 billion.

Verizon on Monday said it expected the net present value of the operational synergies to be more than $1.5 billion.

(Reporting by Abhirup Roy in Bengaluru; Editing by Shounak Dasgupta)