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Will Verizon (VZ) Stock Be Affected by Pause in XO Communications Fiber-Optic Deal?

NEW YORK (TheStreet) -- The FCC is pausing its 180-day review process of Verizon Communications' (VZ) agreement to buy XO Communications' fiber optic business for $1.8 billion.

The agency is putting the deal on hold because it's waiting for additional information from both companies, Reuters reports.

Verizon first announced its intent to purchase XO Communications in late February and said the deal would help the company extend its fiber-based network. Additionally, the transaction will allow the New York-based telecommunications company to lease XO Communications' wireless spectrum with an option to purchase by the end of...


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