Verizon to Create Giant Spin Off with FairPoint Communications

Vikingod · Jan 17, 2007, 01:20 PM

Source: DailyTech
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This week Verizon Communications announced big plans to spin off part of its successful telephone and DSL business. The new spin off will be merged with FairPoint Communications to create a larger presence in New England which contains Massachusetts, New Hampshire, Rhode Island and Vermont.

The move is expected to create one of the largest phone companies in the U.S. Verizon will control roughly 60-percent of the new spin off while FairPoint controls the remaining 40 percent. Currently, FairPoint has a slightly larger presence in rural areas of New England, of which Verizon has a very high interest in. The venture will end up serving nearly 2.5 million users: 1.6 million land lines, 600,000 long distance customers and 234,000 high-speed access customers.

Jan 17, 2007, 01:20 PM	#1
Vikingod Int'l Fish Liaison Join Date: Jul 2004 Location: By the light of lamp I sit and type... Posts: 16,149 Rep Power: 85 System Specs	Verizon to Create Giant Spin Off with FairPoint Communications Source: DailyTech ___________ This week Verizon Communications announced big plans to spin off part of its successful telephone and DSL business. The new spin off will be merged with FairPoint Communications to create a larger presence in New England which contains Massachusetts, New Hampshire, Rhode Island and Vermont. The move is expected to create one of the largest phone companies in the U.S. Verizon will control roughly 60-percent of the new spin off while FairPoint controls the remaining 40 percent. Currently, FairPoint has a slightly larger presence in rural areas of New England, of which Verizon has a very high interest in. The venture will end up serving nearly 2.5 million users: 1.6 million land lines, 600,000 long distance customers and 234,000 high-speed access customers. __________________ *How You Can Help DriverHeaven By Using Digg*