AT&T Selling Off CT Wireline Business

Frontier Communications (NASDAQ:FTR) has entered into a definitive agreement with AT&T (NYSE:T) to acquire AT&T's wireline business and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut. As part of the transaction, Frontier will also acquire AT&T's U-verse video and satellite TV customers in Connecticut. Frontier will pay AT&T $2 billion in cash for the business and related assets.The transaction is subject to regulatory approval, and Frontier expects the transaction to close in the second half of 2014.Frontier will acquire approximately 415,000 data, 900,000 voice, and 180,000 video residential connections of AT&T in Connecticut, as well as AT&T's local business connections and existing carrier wholesale relationships.