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This paper provides a novel iterative solution in an analytical (as opposed to numerical) fashion in the frequency domain for crosstalk on multiconductor transmission lines. The proposed method employs the distributed analytical representation of equivalent coupling sources and an iterative technique originated in transverse waveform relaxation. The effects of adjacent lines at each iteration are considered as equivalent distributed sources along the lines rather than lumped sources at the end of the lines or segments. By means of combined voltage waves, these equivalent distributed sources are further implemented analytically in the form of exponential function combinations, leading to a more efficient updating process since the time-consuming numerical integration over the line is avoided. The voltages and currents at the terminals are solved by the Baum-Liu-Tesche equation considering the symmetry of the coupled transmission lines. One major advantage is that the solution at each iteration is obtained analytically and exactly in terms of the per-unit-length parameters, loads, and some predetermined coefficients, which is highly suitable for illustrating the factors that influence the crosstalk. The validation results in a wide range cases show that the proposed method can efficiently handle transmission lines with a large number of conductors and lossy as well as frequency-dependent parameters.