More Products:
Verizon Communications - Company Report
|
Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Verizon Communications Inc's Wireline telecommunications business provides telephone services, including voice, network access and nationwide long-distance services, broadband video and data services, and other communications products and services in the US. As a result of its merger with MCI, which closed in January 2006, Verizon also owns and operates one of the most expansive end-to-end global Internet protocol (IP) networks. Verizon's domestic wireless business - Verizon Wireless - provides wireless voice and data products and services across the US. (The activities of Verizon Wireless are covered in a separate Executive Briefing as part of ITI's Network Operators Worldwide (NOW) service.) In November 2006, Verizon completed the spin off of Verizon Information Services (principally comprising the company's US print and Internet yellow pages directories business) to shareowners of Verizon. Verizon also sold its 100% indirect interest in Verizon Dominicana in December 2006 and its 52% interest in Telecomunicaciones de Puerto Rico Inc (TELPRI) in March 2007. In February 2007, Verizon entered into a Memorandum of Understanding (MoU) to sell its 28.5% stake in Compañía Anónima Nacional Teléfonos de Venezuela (CANTV) back to the Government of Venezuela. On January 16, 2007, Verizon announced a definitive agreement with FairPoint Communications Inc that will result in Verizon establishing a separate entity for its local exchange and related business assets in Maine, New Hampshire and Vermont, spinning off that new entity to Verizon’s shareowners, and immediately merging it with and into FairPoint. Upon the closing of the transaction, Verizon shareowners will own approximately 60% of the new company and FairPoint stockholders will own approximately 40%. Verizon Communications will not own any shares in FairPoint after the merger. Verizon has its roots in a number of RBOCs that were spun off from the parent Bell company, AT&T, in preparation for the break-up of the AT&T telephone monopoly in 1984. The company grew through the consolidation of two of these RBOCs - Bell Atlantic and NYNEX Corporation - and the subsequent assimilation of GTE Corporation, the largest independent local telephone company in the US. The GTE/Bell Atlantic merger, which created Verizon Communications, was completed at the end of June 2000. Verizon completed its merger with MCI in January 2006 and has incorporated its operations into its wireline business. Verizon's shares are traded on the NYSE under the VZ ticker symbol.
This Company Intelligence Report was produced as part of
|
Order the 
Download the