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Icahn's XO dials up Verizon for $1.8B fiber sale

Feb 22, 2016 - The Deal Pipeline

Carl Icahn's XO Communications is selling its fiber networking business to Verizon Communications Inc. (VZ) for $1.8 billion. XO Chairman Icahn was one of the opportunistic investors during the telecom bust of 2001 to 2002, buying up assets on the cheap out of bankruptcy court. More than a decade after he began spooling up fiber, Icahn would divest the business.

  XO Communications has Ebitda of about $230 million to $250 million in Ebitda, according to three sources familiar with th...