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Verizon forced to divest Vermont interests

Posted by Joe P on June 11, 2008

Way back, a little less than 10 months ago, Verizon announced the purchase of Rural Cellular Corporation. The deal was met with some resistance, as Verizon became essentially the only provider in some areas of Vermont. Back in November, they were working on divesting some interests, though some considered their plans unfair. The Department of Justice has ruled, and Verizon must divest assets in six markets in Vermont, New York, and Washington state.

“We’re one step closer to closing the deal,” said Robin Nicol, a spokeswoman for Verizon Wireless. The assets to be sold include transmission equipment and wireless spectrum, she added.

I haven’t seen exactly which assets they will divest. As I had mentioned back in November, it would be a bit unfair to let them unload their DSL and landline services, while keeping most of their spectrum.

The deal is valued at $757 million, billions in debt.

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Filed under : Verizon Wireless




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