Jana Partners built stake in Frontier Communications, call for company sale

NEW YORK - Activist investment firm Jana Partners has built a new position in telecommunications company Frontier Communications and is calling on the United States' third largest fiber broadband provider to sell itself.

Fiber optic internet offers some of the highest speeds for data transmission as well as the lowest operating costs at a time internet connectivity is becoming a critical policy issue around the world as it is shown to support economic growth. Ares has continued to acquire Frontier stock in the public markets as recently as this month, according to a regulatory filing.

Charlie Munger is a fraction as wealthy as Warren Buffett. He'd be worth over $10 billion if he kept all of his Berkshire Hathaway stock.

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