November 29, 2007
N.H. advocate objects to FairPoint plan
Following a similar recommendation issued in Maine earlier this week, New Hampshire's consumer advocate on Tuesday recommended denying FairPoint's proposed $2.7 billion deal to purchase Verizon's landlines in northern New England.
Consumer Advocate Meredith A. Hatfield said in a legal brief that FairPoint and Verizon "have not met their burden of showing that the transaction is in the public interest," according to the Union Leader in Manchester, N.H.
Officials from both companies disagreed with Hatfield's brief. Verizon New Hampshire spokeswoman Jill Wurm told the Union Leader that "Verizon and FairPoint still think this deal is in the best interest of telephone consumers in Maine, New Hampshire and Vermont."
The staff of the Maine Public Utilities Commission on Monday also recommended denying the deal, noting in its report that the "proposed transaction subjects both ratepayers and shareholders to substantial risks and harms that are not outweighed by any of the potential benefits of the transaction."
Consumer Advocate Meredith A. Hatfield said in a legal brief that FairPoint and Verizon "have not met their burden of showing that the transaction is in the public interest," according to the Union Leader in Manchester, N.H.
Officials from both companies disagreed with Hatfield's brief. Verizon New Hampshire spokeswoman Jill Wurm told the Union Leader that "Verizon and FairPoint still think this deal is in the best interest of telephone consumers in Maine, New Hampshire and Vermont."
The staff of the Maine Public Utilities Commission on Monday also recommended denying the deal, noting in its report that the "proposed transaction subjects both ratepayers and shareholders to substantial risks and harms that are not outweighed by any of the potential benefits of the transaction."
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