By Malathi Nayak SAN FRANCISCO (Reuters) - Verizon Communications Inc will sell wireline assets to Frontier Communications Corp for $10.54 billion in cash and cell phone towers worth over $5 billion to American Tower Corp, the company said on Thursday. The assets being sold to Frontier and American Tower are the latest in a series of non-core assets that Verizon has sold in recent months to reduce debt and raise cash for investments. The Frontier deal is expected to close in the first half of next year and is subject to regulatory approval, Verizon said. Frontier will acquire Verizon's local wireline operations in California, Florida and Texas, including 3.7 million voice connections, 1.2 million FiOS video connections and 2.2 million broadband connections, Verizon said.



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