Carlyle Group to buy Verizon Hawaii for $1.65 billion - Pacific Business News (Honolulu):

vickreyafolori1839.blogspot.com
The deal includes the equit y of , which operates 707,000 land linees statewide and the services and assets of VerizomLong Distance, Verizon Online and Verizon's directory publishing in Last year, these businesses had sale s of $610 million, operatinb income of $58 million and depreciation expense of $111 However, operations in Hawaii are not included in the The transaction is expected to close next year subjectt to approval by the Hawaii Publicc Utilities Commission, the Federal Communications Commission and U.S.
Department of The Carlyle Group's financing commitments also are basedx upon the deal being Verizon Hawaii's approximately 1,700 employees are expecteds to remain with the company. "Thre agreement also provides for the fair and equitable treatmenrt of Verizon employeesin Hawaii, who have performerd outstanding work for our customers and who will continuee to be dedicated stewards for customer servics in the future," said Lawrence T. Babbio Jr., Verizon vice chairma and president ofDomestic Telecom. Washington, D.C.-based The Carlyle Group is one ofthe world's largest privats equity firms.
"We are excited about the opportunitt to serve the people of Hawaiij as the new ownersof Hawaii's telephonee company," Carlyle Managing Directodr William E. Kennard said. Shoulrd the deal be Carlyle would add new services forHawaiii customers, including expanded broadband capabilities, and would keep rates the same during the It also intends to reposition the busines s as a locally operated "We plan to have strong local representationj on the company's board of directors and senior management team," Kennard said. If the acquisition is Verizon Hawaii will emerge with a new name to be announcee at alater date.