Public Service Board to hold hearing on FairPoint deal next week

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The Vermont Public Service Board is planning a hearing next week on a revised deal that would allow FairPoint Communications Inc. to purchase Verizon’s land telephone lines in the state.

Last month the Board rejected a proposal for the sale.

But a new proposal would shave about $235 million from the debt FairPoint would accrue in the $2.72 billion deal with Verizon Communications.

FairPoint wants to buy Verizon’s land-lines in Vermont, New Hampshire and Maine. The deal must be approved by all three states.

So far, only Maine has approved the deal.

The Vermont hearing is set for Tuesday.

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