FairPoint reaches tentative union deal

[Omaha Steve]

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23981219.htm

PORTLAND, Maine (AP) - FairPoint Communications (NYSE:FRP) says it has reached tentative agreements with two unions representing 2,500 employees it's inheriting as part of its purchase of Verizon Communications Inc.'s (NYSE:VZC) (NYSE:VZ) landline phone and Internet service in northern New England.

FairPoint said it came to terms with the International Brotherhood of Electrical Workers and the Communications Workers of America on wage and pension increases, health care benefits and 401(k) improvements.

Maine, New Hampshire and Vermont have agreed to the $2.35 billion deal, which is expected to close at the end of this month.