(AP) – The union representing telephone workers is fighting the proposed sale of Verizon telephone lines in Maine, New Hampshire and Vermont.
Verizon wants to sell its land lines in Vermont, Maine and New Hampshire to FairPoint Communication in a deal worth 2.7billion dollars.
FairPoint has promised to honor existing labor agreements, to retain the work force and to even add 600 jobs. It also promised to make high-speed Internet a priority and to invest 200 million in infrastructure improvements.
But leaders of the International Brotherhood of Electrical Workers and Communications Workers of America say Fairpoint will be so cash-strapped after the transaction that it won’t have the money to keep its promises.
Regulators in the three states plan to take a close look at the proposed transaction. In Maine, the transaction would have to be good both for ratepayers as well as the companies’ investors to be approved.