Cerberus owns 10% of Frontier Communications, held talks to boost stock - filing
© Reuters. Small toy figures with laptops and smartphones are seen in front of displayed Frontier Communications logo, in this illustration taken December 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo) Parent Inc's second-largest stakeholder, with 10% in the telecommunications provider, and has held talks with management to boost the share price, it said in a filing.
Activist investor Jana Partners said on Oct. 17 it had built a position in Frontier and urged the third-largest U.S. fiber broadband provider to sell itself. Frontier's stock price has climbed 25% in the last month as speculation about the company's future increased. Since January, the share price has dropped 21% on concerns about its debt-funded fiber build-out strategy.