Frontier Is Talking With Bondholders After Failed Asset Auction

Frontier Communications Corp. and its bondholders are back at the negotiating table after the debt-laden telephone service company’s asset auction failed to generate an acceptable price, people with knowledge of the matter said. The company, which serves small towns and midsize cities, received multiple bids for landline assets in Florida this month but decided not to sell because none of the offers were high enough, said the people, who asked not to be identified because the matter is private. Struggling under a debt load that’s more than 23 times the size of its market capitalization, Frontier has been considering a sale of landline assets in California, Florida and Texas since at least February.