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Frontier Communications Parent (NASDAQ:FYBR) is in discussions with New York-based asset manager Stonepeak about a joint venture for an investment of up to $1 billion in the company’s fiber assets, Bloomberg reported on Wednesday, citing people familiar with the matter.
The report stated that the talks are ongoing and that no final decisions on terms, including the size of the joint venture, have been made.
Goldman Sachs, in its report on U.S. Telecom Services and Infrastructure report from July 1, said that although Frontier (FYBR) might need to raise capital (for fiber), it is likely to manage a transition phase if it can maintain the pace of net fiber subscriber additions while expanding its fiber footprint toward its goal of 10 million passings.
FYBR is +3.8% so far this year. Stock has gained 44% in the last 12 months.