AT&T divests wireline assets

Investor's Business Daily

Frontier Communications (FTR) rose early Tue. after the regional phone company announced a deal to buy AT&T's (T)wireline assets in Conn. for $2 bil cash. Frontier provides local phone services in rural areas of 27 states and has 3.1 mil access lines. AT&T expects the deal to close in the second half of '14. The wireline phone business has shrunk as wireless cellphone and smartphone sales have grown. AT&T didn't say how many lines were involved in the Frontier deal. AT&T fell 0.9% to 33.85.

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