Frontier (NYSE: FTR) can now cross another item off its checklist in its pending acquisition of Verizon's (NYSE: VZ) rural lines as it got unanimous approval of the deal from the Illinois Commerce Commission (ICC).
Illinois is the eighth state to bless the deal, joining Oregon, Arizona, Ohio, Nevada, South Carolina, California and just last Friday Washington State. Frontier still needs to get regulatory approval from West Virginia--a state where there has been widespread protest from unions on the deal--and the FCC.
Gaining the ICC's approval did not come without its initial challenges for Frontier. Last month, Illinois Administrative Law Judge Lisa M. Tapia argued that the amount of debt Frontier would have to shoulder when it completes the deal would prevent it from being able to manage the Verizon lines and provide a good customer experience.
- see the release here
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