Verizon’s plan to sell its landline telephone service in Maine, New Hampshire and Vermont has been dealt a setback.
A report to Maine utility regulators recommends against the proposed sale to Fairpoint Communications. The hearing examiner’s report to the Public Utilities Commission says the deal would subject ratepayers and shareholders to substantial risks that are not outweighed by benefits of the deal.
The report also sets conditions for the transaction in the event the PUC disagrees with its overall assessment.
FairPoint wants to buy Verizon’s landlines in Maine, Vermont and New Hampshire. To go forward, the deal must be approved by utility regulators in all three states. The Maine recommendation now goes to the full PUC.