Verizon's XO Communications acquisition clears FCC’s approval

Verizon has gained Federal Communications Commission approval for its $1.8 billion acquisition of XO Communications, clearing a major regulatory hurdle for a deal that will expand the telecommunication company's metro and on-net fiber as well as millimeter wave wireless spectrum holdings in several major markets. “We are pleased that the FCC has approved Verizon’s purchase of XO’s wireline business,” said Will Johnson, Verizon's senior vice-president of federal regulatory affairs. “We look forward to quickly putting XO’s fiber to work to better to serve our customers and to aid our deployment of 5G." Now that it has gotten the FCC’s green light, Verizon said it now needs state regulatory approvals in Pennsylvania and New York State.