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Verizon Sells ME, NH, VT Networks – Fairpoint deal officially closes…
31 Mar 2008
Verizon and Fairpoint Communications have officially closed the deal on Verizon’s transfer of their phone & DSL networks in Maine, New Hampshire and Vermont to Fairpoint Communications (1.6 million landline customers and 230,000 DSL users are impacted). $88 billion Verizon is the real winner in the deal, shedding roughly $1.5 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, the moon and sky).
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