FCC OKs Consolidated/FairPoint, Grants Waiver
The FCC Wireline Bureau and other staff greenlighted the $1.5 billion FairPoint sale to Consolidated Communications, in a Monday order. The bureau, with the International and Wireless bureaus, said the deal serves the public interest, convenience and necessity, and the…
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benefits overweigh potential harms. “Applicants have no overlapping service areas and we find that the transaction will result in some cost savings, improved service quality, and enhanced broadband services.” Staff granted a waiver of the price cap “all-or-nothing” rule: “Applicants have presented good cause to waive the rule as we do not believe the public interest would be served by requiring the Applicants to undertake the financial and administrative costs of converting the acquired rate-of-return exchanges to price cap regulation at this time.” The deal previously won shareholder and antitrust clearance, but still needs some state regulatory OKs, including from the three New England states where FairPoint is dominant. Consumer advocates and workers’ unions in those states seek conditions (see 1704250024).