Maine's utility regulators have signed off on a deal that allows Fairpoint Communications to take over Verizon Communications' lines in Maine, Vermont and New Hampshire for $2.7 billion. The utility boards in the remaining two states have yet to approve the settlement, in which Fairpoint may reduce its stock dividend 35% and make debt repayments annually of $35 million. Verizon has agreed to contribute $235.5 million to the working capital of the new company to help it reduce debt.

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