Maine PUC postpones FairPoint-Verizon session

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Maine utility regulators have postponed today’s hearing on the proposed FairPoint-Verizon sale until early next year.

The Public Utilities Commission was scheduled to take up a settlement agreement on the proposed sale of Verizon’s northern New England wired phone network to FairPoint Communications today.

Last week, the PUC told the parties involved in the proposed sale to clear up several questions about the settlement, or stipulation, by Wednesday.

The case is back in play in Maine days after Vermont regulators last Friday rejected FairPoint’s $2.7 billion buyout bid, but invited FairPoint to submit a revised proposal. New Hampshire will consider the sale next year.

FairPoint wants to take ownership of Verizon’s 1.6 million access lines, along with Internet service, in Maine, New Hampshire and Vermont. Verizon would retain its wireless phone operations in the region.

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