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VERIZON COMMUNICATIONS

(VZ)
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Verizon Communications : agrees to purchase Bluegrass Cellular

10/19/2020 | 10:31am EDT

BASKING RIDGE, N.J., Oct. 19, 2020 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced that it has signed an agreement to acquire certain assets of Bluegrass Cellular, a rural wireless operator serving central Kentucky.

Bluegrass Cellular provides wireless service to 210,000 customers in 34 counties in rural service areas 3, 4 and 5 in central Kentucky.

“We are excited to acquire certain assets of Bluegrass Cellular and expand our footprint in Kentucky,” said Ronan Dunne, Executive Vice President and Group CEO, Verizon Consumer Group. “We look forward to welcoming Bluegrass customers and employees into the Verizon family and providing them with reliable wireless service alongside a best-in-class customer experience.”

“We launched the first wireless company in central Kentucky 29 years ago,” said Ron Smith, President of Bluegrass Cellular. “We’ve always known that our customers were the most important part of our business, and we pride ourselves on playing an important role in connecting our community. I’m confident that Verizon will continue to be the same good neighbor that we’ve been and will provide crucial and reliable wireless connectivity to our rural communities.”

Bluegrass customers do not need to take any action at this time. Customers will receive information regarding the acquisition and the array of services that will be available from Verizon, including wireless data services delivered on the nation’s most awarded 4G high-speed wireless broadband network.

The acquisition is subject to FCC approval and other conditions and is expected to close late this year or early in 2021.

For more information and updates, customers can visit Bluegrass at www.Bluegrasscellular.com

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers data, video and voice services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Kim Ancin
Kimberly.ancin@verizon.com 
908.801.0500


verizon_logo_1300x400.jpg

Source: Verizon Communications

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 135 B - -
Net income 2021 21 816 M - -
Net Debt 2021 144 B - -
P/E ratio 2021 10,3x
Yield 2021 4,67%
Capitalization 225 B 225 B -
EV / Sales 2021 2,73x
EV / Sales 2022 2,68x
Nbr of Employees 132 200
Free-Float 96,5%
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Mean consensus HOLD
Number of Analysts 28
Last Close Price 54,26 $
Average target price 60,29 $
Spread / Average Target 11,1%
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Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Shankar Arumugavelu Global Chief Information Officer
Craig Silliman Chief Administrative & Legal Officer, Executive VP
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