GNG News Guy
03-31-2008, 12:56 PM
http://i.dslr.net/urls/67/45367.gif (http://www.dslreports.com/shownews/Verizon-Sells-ME-NH-VT-Networks-93150)
Verizon and Fairpoint Communications have officially closed the deal (http://newscenter.verizon.com/press-releases/verizon/2008/verizon-completes-spin-off-of.html) on Verizon's transfer of their phone & DSL networks in Maine, New Hampshire and Vermont to Fairpoint Communications. $88 billion Verizon is the real winner in the deal, shedding $1.7 billion in debt and getting a $600 million tax write off. The $270 million Fairpoint quickly becomes the nation's eighth largest phone company, and is now tasked with fulfilling promises made to New England during the courtship process (rural expansion, faster speeds).
Verizon and Fairpoint Communications have officially closed the deal (http://newscenter.verizon.com/press-releases/verizon/2008/verizon-completes-spin-off-of.html) on Verizon's transfer of their phone & DSL networks in Maine, New Hampshire and Vermont to Fairpoint Communications. $88 billion Verizon is the real winner in the deal, shedding $1.7 billion in debt and getting a $600 million tax write off. The $270 million Fairpoint quickly becomes the nation's eighth largest phone company, and is now tasked with fulfilling promises made to New England during the courtship process (rural expansion, faster speeds).