Maine advocate now supports acquisition

FairPoint's proposed $2.7 billion acquisition of Verizon Communications assets in Maine, New Hampshire and Vermont won a key victory late Wednesday, as the negotiations with Maine public advocate staff, who had opposed the deal, resulted in a reversal and recommendation the acquisition be approved by the Maine Public Utilities Commission.

Details of the settlement reached as a result of the negotiations were not available as of this writing. The Maine public advocates had been asking for a reduction in the price of the deal, among other stipulations. The Maine PUC reportedly was scheduled to begin its consideration of the deal this morning. A decision could come as early as today, or possibly a week from today if further deliberation is required in the PUC's next scheduled meeting.

For more:
- read this report in The Portland (Maine) Press Herald

Related articles:
- The proposed acquisition has garnered a lot of controversy

Suggested Articles

Mediation between Windstream and spinoff Uniti Group ended as both parties are too far apart on talks that are key to their respective futures.

GTT Communications reported a loss of $26.2 million in its third quarter compared to a net loss of $23.4 million in the same quarter a year ago.

Huawei said on Tuesday that it would give its employees $286 million in cash bonuses as a reward for weathering the U.S. trade blacklisting.