Frontier gets FTC approval to proceed with Verizon asset deal

Frontier Communications has received Federal Trade Commission approval for its pending acquisition of Verizon's wireline operations in California, Florida and Texas, clearing one of the initial hurdles to complete the deal. The FTC has granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Initially announced in February, the expiration of the required waiting period under the act satisfies one of the conditions of the completion of the transaction. However, Frontier still has to gain approvals from the FCC and state public utility commissions in California, Florida and Texas. Frontier expects the sale to close in the first half of 2016.