Blair Levin of New Street Research predicts that, despite potential challenges, the California Public Utilities Commission (CPUC) will ultimately approve Verizon's $20 billion acquisition of Frontier Communications. His analysis discusses the tensions between the Trump administration's stance on diversity, equity, and inclusion (DEI) and the CPUC's regulatory requirements. Levin notes that while political sensitivity exists, particularly in California, it is improbable that Governor Gavin Newsom will utilize this acquisition as a flashpoint. He reiterates key legal aspects, highlighting Verizon's aspirational DEI goals but believes these will not hinder the merger's approval by the FCC or CPUC.
Levin emphasizes that, while the CPUC may have concerns about diversity and inclusion during the approval process, it is unlikely to outright block the Verizon/Frontier deal.
Despite California's political climate and resistance to federal policies, Levin suggests that Governor Newsom's administration is not likely to make the Verizon/Frontier acquisition a contentious issue.
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