Lumen should be Verizon's next target, says New Street Research

Speculation is swirling that Verizon's $20 billion bid for Frontier Communications will spur more fiber-focused mergers & acquisitions among the nation's top mobile operators. At least one analyst has named the carrier he believes should be Verizon's next target: Lumen. Analyst Jonathan Chaplin wrote in a research note that such an acquisition could help shore up Verizon's fiber base and convergence strategy. Lumen Executive Vice President and Chief Technology Officer Chris Stansbury suggested that there is outside interest in Lumen, but denied being in any kind of formal process. The general thought being pressed by Chaplin is to see Verizon acquire Lumen (including its legacy residential business) and then spin out its own enterprise business along with the company's enterprise services that would come with a Lumen deal.