Frontier Communications (NASDAQ:FTR) has unloaded its stake in regional telecom service provider Mohave Wireless. The buyer is Verizon (NYSE:VZ) and Vodafone's (NASDAQ:VOD) Verizon Wireless. The financial terms of the deal were not disclosed.
Frontier had held a one-third partnership interest in Mohave, in conjunction with Verizon Wireless. The latter is now sole owner of the company.
Mohave operates in northwest Arizona. Frontier quoted its EVP Revenue Development Melinda White as saying of the region that it "has grown steadily due to the popularity of Lake Havasu City as a resort, Bullhead City for gaming and Kingman as a business and retirement destination."
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