Anyone have any news on this article by street insider?
9 replies (most recent on top)
I heard they are only selling the fiber optic section of the Verizon assets in calf. Texas and Florida. Is this true? I heard they buy these big areas and chop them up to show more capital. They don't want to be big. Anyone out west that can verify this.
The article backed it up, but its been thrown out there for a little while. this is becoming a more recent trend with smaller telco, all the big players want out of landlines which is evident.And at this point, Frontier probably could care less WHO bought it as long as they'd do it. I even remember hearing once that Frontier was going to try and morph into some kind of REIT to change its finances and regulations, take it for what its worth though.
Re the real estate investment trusts, did you get that from FierceTelecom's article or is there a 2nd source out there saying that?
Sounds like its far more likely that one of these real estate investment trust groups are gonna be the suitor, rather than a traditional telco player. heck, might work out better
I’m in the California footprint and I worked a major area in the San Gabriel Valley. It comprises roughly 1.2 million customers. They screwed it up from the start. They grossly understaffed install and repair and had construction ( yes we have a construction dept in California not contractors) “do fluid workforce”. They are so out of touch with what’s happening. The big money all live in Orange County and they don’t venture past that saying things ( hearsay but ....) like, I don’t want to travel to Santa Barbara just update me on the fires. They’re supposed to announce a reorganization plan this Monday. Well nice chatting with you all. I gotta go look for work now. Lol
CTF is, and is potentially a major market for frontier, but that seems to be the problem in itself. Frontier cant handle MAJOR markets, that's why they had better success as a "rural telecom provider". Maybe they finally realized to quit drinking the VZ kool-aid every few years. Selling might be tough too since frontiers failures have been in the open, but an already built fiber network is still attractive to many buyers.
Wow... that's a huge admission that the company didn't have and doesn't have the ability get its house in order.
Meanwhile the same dysfunctional IT leadership who presided over the bungled transition has not figured this out. Start getting ready for a huge tangle should those same people manage the divestiture of piecemeal former Verizon assets. Buyer beware!
So sad for customers and employees caught up in this ongoing fiasco.
Really hope it is true.