Verizon to Buy XO's Fiber Unit From Carl Icahn for $1.8 Billion

  • No. 1 wireless carrier will lease XO's airwaves to test 5G
  • Deal adds to Verizon's backhaul network for corporate clients

Verizon Communications Inc. agreed to buy fiber-optic networks from Carl Icahn’s XO Communications LLC and lease spectrum for about $1.8 billion, giving the nation’s largest wireless carrier more Internet bandwidth for corporate clients and airwaves to test faster wireless technology.

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