Verizon Communications Inc. announced on Monday an agreement to buy the fiber-optic network business of XO Communications for about $1.8 billion. Verizon expects the deal, which is seen closing in the first half of 2017, to have synergies of more than $1.5 billion. Verizon said it expects to lease available XO wireless spectrum by the end of 2018. Verizon’s stock, which gained 0.4% in premarket trade, has run up 10% year to date, while the Dow Jones Industrial Average has lost 5.9%.
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