Da-Chief
03-29-2008, 12:50
http://i.dslr.net/urls/67/45367.gif (http://www.dslreports.com/shownews/Special-Sunday-Meeting-May-Block-VerizonFairpoint-Sale-93095)
It took months of negotiations for the regulators in Maine, New Hampshire and Vermont to agree to the sale of Verizon s New England DSL and phone networks to Fairpoint Communications. The deal was finally approved (http://www.dslreports.com/shownews/92163), with many changes, by all three states and is set to close this coming Monday night.
However, there remain strong concerns about allowing Fairpoint, a company with significant funding problems, to take over the network. Those concerns are so strong, in fact, that the utility regulators in New Hampshire have called (http://news.mainetoday.com/updates/024446.html) for a special Sunday meeting to re-discuss the issue.
The group is convening because it has discovered that the interest rate on Fairpoint s loans is much higher than expected and they are concerned that this is going to place the business in financial jeopardy. They wonder if waiting until interest rates are lower might be a better option. The state of Maine also held a meeting to discuss this issue but decided to go ahead and allow the sale in what may be a lose-lose situation (http://www.dslreports.com/shownews/92631) for everyone involved.
read comment(s) (http://www.dslreports.com/shownews/Special-Sunday-Meeting-May-Block-VerizonFairpoint-Sale-93095)
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It took months of negotiations for the regulators in Maine, New Hampshire and Vermont to agree to the sale of Verizon s New England DSL and phone networks to Fairpoint Communications. The deal was finally approved (http://www.dslreports.com/shownews/92163), with many changes, by all three states and is set to close this coming Monday night.
However, there remain strong concerns about allowing Fairpoint, a company with significant funding problems, to take over the network. Those concerns are so strong, in fact, that the utility regulators in New Hampshire have called (http://news.mainetoday.com/updates/024446.html) for a special Sunday meeting to re-discuss the issue.
The group is convening because it has discovered that the interest rate on Fairpoint s loans is much higher than expected and they are concerned that this is going to place the business in financial jeopardy. They wonder if waiting until interest rates are lower might be a better option. The state of Maine also held a meeting to discuss this issue but decided to go ahead and allow the sale in what may be a lose-lose situation (http://www.dslreports.com/shownews/92631) for everyone involved.
read comment(s) (http://www.dslreports.com/shownews/Special-Sunday-Meeting-May-Block-VerizonFairpoint-Sale-93095)
More...