The deal is structured as thus: VZ spins off Northern New England as a separate operating company to its shareholders. The new operating company immediately merges with Fairpoint, so the shares of Northern New England become Fairpoint shares.
rcdailey Dragoonfly Premium join:2005-03-29 Rialto, CA
If the financing of this deal via the sale of bonds is going to cost more now due to having to offer a higher return on the bonds, then that can make the deal unworkable. Verizon may be stuck with the territory unless they are able to help Fairpoint by making it less costly. Blame the politicians for that, if you wish.
