FairPoint agrees on clauses to buy Verizon's Maine wireline ops

viernes 14 de diciembre de 2007 00:30 CET

Dec 13 (Reuters) - FairPoint Communications Inc FRP.N reached an agreement with several parties involved in its proposed acquisition of Verizon Communications Inc's (VZ.N: Cotización) wireline operations in Maine.

FairPoint will expand its broadband initiative in Maine with a five-year, $40 million investment, the rural telecommunications provider said in a statement.

The company also agreed to reduce the anticipated post-merger dividend rate of 35 percent, beginning with the first full quarterly dividend to be paid after the close of the deal. (Reporting by Aditi Samajpati in Bangalore; Editing by Pratish Narayanan)