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FCC Approves FairPoint-Verizon Deal in New England States


11/01/2008

America’s Federal Communications Commission has approved FairPoint Communications Inc.’s proposed acquisition of Verizon’s fixed-line telephone businesses in Maine, New Hampshire, and Vermont.

“In providing the approval for the necessary license transfers related to this merger, the FCC has recognized this transaction is in the best interest of consumers and businesses,” commented FarPoint CEO, Gene Johnson, on the regulatory decision. “As we continue to make progress toward closing this transaction, we look forward to serving our new customers in northern New England and offering enhanced communications products and services.”

Verizon announced early last year that it was spinning off its landline operations in the three New England states, to create a new independent telecom operator, which would then be merged with FairPoint. The consolidated business will operate under FairPoint’s brand name, with 60% of its value allocated to Verizon shareholders.

Charlotte, North Carolina-based FairPoint is a regional telecom holding company, which owns and operates 30 small local and long distance telephone providers in 18 states.



 

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