batterup
I Can Not Tell A Lie.
Premium
join:2003-02-06
Netcong, NJ
clubs:
 ·Verizon Online DSL
| reply to TKJunkMail
Re: how much stock?
said by TKJunkMail  :said by rit56 :60% ? well it's still Verizon. Actually it won't be. Verizon's shareholders will get 60% of FairPoint stock - not Verizon. Fairpoint will be an independent company not under Verizon control. Of course, the same rich people that own most of Verizon will own most of FairPoint, but that is not the same thing as Verizon owning it. Every one that owns stock is not rich, far from it. Especially when the stock is worth less then it was when the company was Bellatlantic.
Perhaps Teletruth can supply broadband to the great unwashed. |
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TKJunkMail
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
 ·Sprint Mobile Broa..
 ·Comcast
| reply to hottboiinnc
said by hottboiinnc :This is not true according to Fairpoint's Website. "Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon." which is from the "merger" page of Fairpoint. VZ will STill OWN the company. Just not the debit. You conveniently left out the rest of that paragraph and the next that shows the combined company won't be under Verizon control. Nice try though.
»www.fairpoint.com/merger_press_release.html
Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon. This new subsidiary will incur $1.7 billion of newly issued debt and will then be spun off to Verizon's stockholders and immediately merged with and into FairPoint.
When the merger is completed, the companies conducting the Maine, New Hampshire and Vermont telephone and related business operations will be subsidiaries of FairPoint. The combined business will be managed by FairPoint's executive team.
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hottboiinnc
ME
join:2003-10-15
Cleveland, OH
·Time Warner Cable
·buckeye cable
| reply to wev567
This is not true according to Fairpoint's Website.
"Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon." which is from the "merger" page of Fairpoint. VZ will STill OWN the company. Just not the debit. |
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TKJunkMail
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
·Sprint Mobile Broa..
·Comcast
| reply to rit56
said by rit56 :60% ? well it's still Verizon. Actually it won't be. Verizon's shareholders will get 60% of FairPoint stock - not Verizon. Fairpoint will be an independent company not under Verizon control.
Of course, the same rich people that own most of Verizon will own most of FairPoint, but that is not the same thing as Verizon owning it.
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wev567
join:2006-02-25
Pittsburgh, PA | reply to daslog
Actually, it's 1 share of Fairpoint for every 55 Verizon shares. For some people, barely worth the commission to dump it. |
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cobo6
join:2002-02-18
Willingboro, NJ | reply to rit56
thats the same thing i said. |
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moonpuppy
join:2000-08-21
Glen Burnie, MD
·Verizon Online DSL
| reply to rit56
said by rit56 :60% ? well it's still Verizon. DING DING DING!!!! WE HAVE A WINNER!!!!!!!
Now they can dump the stock for a loss should something happen. Sixty percent of the stock = controlling interest.  |
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LD 50
join:2000-08-28
Milford, NH
clubs: | reply to biznatch11
VZ will not own the shares, VZ shareholders are getting the shares. |
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daslog
join:2002-04-10
Milford, NH | reply to biznatch11
Verizon shareholders get Fairpoint stock not Verizon itself. So if you own 20 shares of Verizon, you will be issued Fairpoint stock as part of the spinoff. |
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biznatch11
join:2004-11-21
London, ON | reply to rit56
I'm also confused by this. If they'll own 60% then aren't they actually buying rather then selling? |
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ropeguru
Premium
join:2001-01-25
Bridgeport, WV
clubs:
 ·VOIPo
| reply to rit56
said by rit56 :60% ? well it's still Verizon. Exactly.. They will now be the controlling entity....
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rit56
join:2000-12-01
New York, NY | 60% ? well it's still Verizon. |
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