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Verizon Communications: Business
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Verizon Communications: SureWest Communications announced that it has entered into a definitive agreement to sell the operating assets of its Wireless business to Verizon Wireless. Under the agreement, Verizon Wireless will acquire the spectrum licenses and operating assets of SureWest Wireless for an aggregate cash purchase price of $69.0 million. The transaction is expected to close in the second quarter 2008.
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Verizon Business ... is building out network facilities in Oregon to connect the TPE cable to Verizon Business' U.S. domestic network. In addition to the U.S. West Coast landing, the TPE cable will land on the China mainland at Qingdao and Chongming. Additional landing points include Tanshui, Taiwan and Keoje, South Korea.
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Though an outright sale is possible, Verizon is ... considering a spinoff of its yellow-pages business, which would avoid a major tax bill. Such a move would also reduce Verizon’s net debt by a fifth, which would give it more ammunition to go after Vodafone’s 44 percent stake in Verizon Wireless, according to Breakingviews. That business has been valued at anywhere from $40 billion to $60 billion.
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Dennis F. Strigl is the President and Vice-Chairman of Verizon Communications, responsible for operations at Verizon Telecom, Verizon Wireless and Verizon Business. He assumed this position from January 2007. Previously he was the president and CEO of Verizon Wireless.
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According to Amy DeCarlo, principal analyst at Current Analysis, "As there is more consolidation of devices in the marketplace, this announcement from Verizon Business comes at an opportune time. The company is on the right track in embracing this technology wave early on."
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Verizon Business ... announced the appointment of John Samuel as president of Verizon Business India. Samuel, with more than 20 years of experience in the Indian market, will focus on developing business opportunities in India, working with Verizon Business' locally based telecommunications partners.
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