Shareholders of pure-play fiber internet provider Frontier Communications Parent, Inc. ($FYBR) on Wednesday have approved the acquisition of the company by Verizon Communications Inc. ($VZ) at a special meeting.

Frontier views abstention as “effectively a vote against ... Glendon pointed to a joint venture by T-Mobile and investment firm KKR to acquire fiber internet provider Metronet in July. Upon announcing the acquisition, T-Mobile said it would invest ...

The transaction, which awaits regulatory approval, would extend Verizon’s fiber network to a size that would rival major competitors like AT&T and Comcast by adding back lines i

The deal has been approved despite a lot of noise from several Frontier investors in recent weeks that Verizon's bid undervalues the company. Several Frontier shareholders have expressed their opposition to the deal, including Glendon Capital Management, Cooper Investors Pty Limited, and Cerberus.

Frontier Communications shareholders have approved a $9.6 billion sale to Verizon, the company said on Wednesday, even as a number of large investors sought to get a higher price. Shareholders had until Wednesday to cast their votes on a deal that Verizon's CEO Hans Vestberg called a "strategic fit" that would allow the company to be more competitive in additional markets.

Frontier Communications (FYBR) rises 2.6% as shareholders are set to approve sale to Verizon (VZ). WSJ report confirms deal approval.