The New Jersey Board of Public Utilities (Board) approves the $1.8-billion merger between Verizon Communications Inc. and XO Communications Services, LLC. The planned merger, in which Verizon will but XO’s fiber-optic network business, was announced earlier in the year.
“The board found that the merger will strengthen the [Verizon’s] product offerings, while improving its business customers’ quality of service under the same current rates, terms and conditions,” said Richard S. Mroz, president, New Jersey Board of Public Utilities.
The Board found and required that:
In March 2016, both Verizon Communications, Inc. and XO Communications Services, LLC filed a joint petition with the BPU board requesting approval of the planned merger.Related Articles: