01:18 PM EDT, 05/16/2025 (MT Newswires) -- (Updates with additional details from the FCC statement starting in the second paragraph.)

Shares of Verizon Communications ( VZ ) were up 1% in recent Friday trading after the Federal Communications Commission's Wireline Competition Bureau said it approved the company's $20 billion acquisition of Frontier Communications (FYBR).

Following the FCC's approval, Verizon will now be able to upgrade Frontier's existing network in 25 states with new fiber deployments that will replace old copper networks, the agency said.

Verizon is expected to install fiber networks in 1 million or more US homes each year following the merger, the FCC said.

The agency also said Verizon will end its DEI-related practices and that the combined business will be committed toward equal opportunities and non-discrimination.

Verizon did not immediately reply to a request for comment from MT Newswires.

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