Debevoise & Plimpton LLP is advising Verizon Communications Inc. in its acquisition of XO Communications’ fiber-optic network business for approximately $1.8 billion.

Verizon’s ownership of XO’s fiber-based Internet protocol and Ethernet networks will help better serve enterprise and wholesale customers. In addition, acquired fiber facilities will help Verizon continue to densify its cell network.

The transaction is subject to customary regulatory approvals and is expected to close in the first-half 2017. Separately, Verizon will simultaneously lease available XO wireless spectrum, with an option to buy XO’s entity that holds its spectrum by year-end 2018.

The Debevoise team is led by partners Jeffrey J. Rosen and Michael A. Diz and includes partners Lawrence K. Cagney and Peter A. Furci, counsel Brandon C. Gruner and Dmitriy A. Tartakovskiy and associates Usman Arain, Matt Auten, Erin Cleary, Michelle M. Hillenbrand, Maxine Sharavsky and Ali Sikander.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.