Monday, November 23,  1:45 am

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Frontier Communications Corp. CEO Maggie Wilderotter announced an $8.6 billion transaction with Verizon Communications Inc. on Wednesday that will more than double the size of the company while lowering its debt ratios.

Frontier plans to merge with a Verizon spinoff that operates 4.8 million land lines. The company expects sales to increase to $6.5 billion from $2.2 billion, while its debt level falls to 2.6 times Ebitda from 3.8 times Ebitda.

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