FairPoint Completes Purchase of Verizon Landline Assets in New England

5:55 am on April 1, 2008 | Category: Business, Corporate, Telecom Services, Telephone

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FairPoint Communications Inc. has finalized its acquisition of Verizon’s landline telephone operations in the New England states of Maine, Vermont, and New Hampshire.

The $2.3 billion deal, which was brought into compliance with regulatory orders earlier this year and formally completed yesterday, makes FairPoint the eighth largest fixed-line telephone operator in the United States.

FairPoint’s existing investors are taking a 40% interest in the combined company, while Verizon shareholders will control the other 60%. The entity will retain the FairPoint brand name.

Charlotte, North Carolina-based FairPoint Communications offers local and long distance telecommunications and broadband internet services in a number of American markets. It has been a publicly traded company since its $462.5 million Initial Public Offering in February 2005.

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    1. The telecommunication industy is heading towards toll free 1-800 numbers.

      http://www.tollfreenumber.org/TelecommunicationsIndustryNews

      Comment by Doug h — April 4, 2008 #

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