AT&T is selling its Connecticut operations to Frontier Communications as part of its plans to shift focus to its new 4G LTE network. The $2 billion dollar deal will include AT&T’s 415,000 data, 900,000 voice and 180,000 video residential connections, as well as its local business connections and carrier wholesale relationships in the region.
According to AT&T, the proceeds from the exchange will be put towards expanding its 4G network throughout the United States, as well as attract more business customers and develop its high-speed U-verse internet and video services.
Maggie Wilderotter, chairman and CEO of Frontier, stated:
“We are excited to be acquiring AT&T’s wireline operating company in Connecticut, where our company has been headquartered since 1946. This is a great opportunity to bring to Connecticut Frontier’s portfolio of products and services, such as Frontier Secure, our industry leading digital security offering that gives customers top-rated online computer protection and premium technical support. We see an opportunity to enhance broadband capabilities in Connecticut.”
“AT&T’s Connecticut business is substantial, well-defined and covers nearly the entire state. Based upon our track record, we are extremely confident that we will leverage this opportunity to deliver an excellent customer experience and shareholder value,” added president and COO Dan McCarthy.
AT&T has stated that the transaction will not effect the financial results of the past year, but will certainly have an impact in the future.
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