If FairPoint merger approved, Maine could see millions
AUGUSTA, Maine (AP) — The company that's buying FairPoint Communications will invest at least $52.2 million in Maine if the merger is approved by state regulators.
The document filed Tuesday by Consolidated Communications and FairPoint lays out a three-year investment plan requested by the public advocate.
The plan calls for $17.4 million of annual investments for three years starting in 2018, mostly on expanding and upgrading broadband networks. Among other things, the so-called "stipulation" confirms that the company will leave existing agreements with other regulated carriers intact for at least three years.
Company officials expect to close the merger later this year. Regulators in Maine, New Hampshire and Vermont must sign off on the deal.