FairPoint Communications, which earlier this year acquired former Verizon Communications wireline properties in Maine, New Hampshire and Vermont, was scheduled to complete the cutover from old Verizon systems to its own systems by September, but it has decided to delay the move until November.
The company did not specify any problems, but said it would not be able to meet it earlier cutover goal. FairPoint had been fairly aggressive with its integration and deal completion goals, and stood to save money it was spending to lease Verizon systems. The two-month delay now means two more monthly payments to Verizon of about $16.5 million. Still, FairPoint said the unexpected payments will not hurt its ability to manage its debt from the deal.
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