Tuesday, January 16, 2007

Verizon Spins Off Northeast Landline Business

Via BetaNews.

Telecommunications company Verizon said Tuesday that it will spin off its landline business in Maine, New Hampshire, and Vermont, merging it with Fairpoint, a Charlotte, N.C. telecommunications company specializing in rural and small urban markets.

The deal would generate some $2.7 billion for both Verizon and its shareholders. The company will be the majority shareholder of the combined entity, although it will be headed by Fairpoint's current management team.

More here.

posted by Fergie @ 1/16/2007 11:08:00 AM

0 Comments:

Post a Comment

<< Home