April 2, 2008 (Augusta, Maine) – PretiFlaherty client FairPoint
Communications closed its $2.7 billion acquisition of Verizon’s wireline
operations in Maine, New Hampshire and Vermont on March 31, 2008, this week,
after last-minute Public Utilities Commission (PUC) hearings allowed the closing
to proceed. Preti Flaherty represented FairPoint Communications in successfully
obtaining the required regulatory approvals from the Maine PUC, despite intense
opposition from national unions and other parties.
The firm’s Telecommunications, Legislative and Labor Groups worked with
FairPoint for over a year to obtain regulatory approval, legislative support,
and public awareness for the transaction, and to help transition Verizon’s
workforce. The year of complex administrative litigation concluded with a
multi-party settlement agreement that was approved by the Maine PUC. The
approval of the Maine PUC was followed by approvals in New Hampshire and
Vermont.
FairPoint’s acquisition of Verizon’s wireline operations has been described
as the region’s most important telecommunications deal in memory. The North
Carolina-based company plans to reach the goal of 90 percent broadband
accessibility and to create 700 new jobs in Maine alone.
About Preti Flaherty
Preti Flaherty has offices in Portland and Augusta, Maine, Concord, NH and
Boston, MA. With more than 85 attorneys, the firm counsels clients in the
areas of business law, energy, environmental, estate planning, health care,
intellectual property, labor and employment, legislative and regulatory,
litigation, technology and telecommunications.
###
Click here to view the FDA documents
