MONTPELIER, Vt. — The head of the Vermont operation of FairPoint Communications says the state should reduce its oversight of the utility after it emerges from bankruptcy.
FairPoint’s Vermont President Mike Smith says his company is operating in a highly competitive business environment and FairPoint is competing against wireless and cable television providers that are mostly regulated by the federal government.
FairPoint filed for bankruptcy on Oct. 26. It’s been hobbled by a heavy debt load and other problems since if bought Verizon’s landline and internet operations in Maine, New Hampshire and Vermont in 2008.
The Barre Montpelier Times-Argus says FairPoint hopes to emerge from bankruptcy by the end of the summer.