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Frontier Sells Mohave Wireless Stake to Verizon Wireless

By Eric Volkman, The Motley Fool

Filed under:

Frontier Communications has unloaded its stake in regional telecom service provider Mohave Wireless. The buyer is Verizon and Vodafone‘s Verizon Wireless. The financial terms of the deal were not disclosed.

Frontier had held a one-third partnership interest in Mohave, in conjunction with Verizon Wireless. The latter is now sole owner of the company.

Mohave operates in northwest Arizona. Frontier quoted its EVP Revenue Development Melinda White as saying of the region that it “has grown steadily due to the popularity of Lake Havasu City as a resort, Bullhead City for gaming and Kingman as a business and retirement destination.”

The article Frontier Sells Mohave Wireless Stake to Verizon Wireless originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends Vodafone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Frontier Communications Sells Its Interest in Mohave Wireless to Verizon Wireless

By Business Wirevia The Motley Fool

Filed under:

Frontier Communications Sells Its Interest in Mohave Wireless to Verizon Wireless

STAMFORD, Conn.–(BUSINESS WIRE)– Frontier Communications Corporation (NAS: FTR) sold its one- third partnership interest in Mohave Cellular Limited Partnership (“Mohave Wireless“) to Verizon Wireless on April 1, 2013. Verizon Wireless now has 100 percent ownership of Mohave Wireless. Financial terms are not being disclosed.

“During the years in which Frontier was the General Partner, the investments in Mohave Wireless enabled the partnership to provide excellent cell coverage and service in northwest Arizona. Traffic – both voice and data, not to mention car, RV and truck – has grown steadily due to the popularity of Lake Havasu City as a resort, Bullhead City for gaming and Kingman as a business and retirement destination. I am proud that we delivered value year over year to all of the partners in this venture,” said Melinda White, Executive Vice President, Revenue Development for Frontier.

Ms. White added, “We are delighted to have the public opportunity to thank the employees of Mohave Wireless for all they did for their customers and the community. Their experience and dedication will be great assets to Verizon Wireless as it integrates Mohave Wireless. We also applaud Verizon Wireless for adding Mohave to their wireless network in the region.”

About Frontier Communications

Frontier Communications Corporation (NAS: FTR) , is an S&P 500 company and is included in the FORTUNE 500 list of America’s largest corporations. Frontier offers broadband, voice, satellite video, wireless Internet data access, entertainment services like TumTiki.com, data security solutions through Frontier Secure, bundled offerings and specialized bundles for residential customers, small businesses and home offices and advanced communications for medium and large businesses in 27 states. Frontier’s approximately 14,700 employees are based entirely in the United States. More information is available at www.frontier.com.

Frontier Communications
Luke Szymczak, 203-614-5044
luke.szymczak@ftr.com

KEYWORDS:   United States  North America  Arizona  Connecticut

INDUSTRY KEYWORDS:

The article Frontier Communications Sells Its Interest in Mohave Wireless to Verizon Wireless originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance