Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud.
We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
The President of the International Brotherhood of Electrical Workers,
AFL-CIO (IBEW), Edwin D. Hill, today announced, “The IBEW strongly
supports Frontier’s commitment to expanding broadband and improving the
quality of service in the territories it will acquire from Verizon. We
appreciate the company’s recognition that residential and business
customers in rural America are eager for access to the changing
technologies of the 21st century.” He added, “Frontier
understands that broadband availability is crucial for job creation and
for maintaining a growing economy. The members and leadership of the
IBEW are committed to partnering with Frontier’s leaders to provide
first-rate service, exemplary customer care and technical expertise.”
Maggie Wilderotter, Chairman and CEO of Frontier Communications,
remarked, “It is very gratifying that the IBEW will work closely with
the company towards a goal that is in the best interests of customers,
employees and the communities we serve. The IBEW is a partner in the new
Frontier and like us, committed to providing all consumers with the
broadband, video and phone services they need. We look forward to
continuing our long relationship.”
The transaction is scheduled to close July 1, 2010.
Forward-Looking Language
This presentation contains forward-looking statements that are made
pursuant to the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. These statements are made on the basis of
management’s views and assumptions regarding future events and business
performance. Words such as “believe,” “anticipate,” “expect” and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements (including oral representations) involve
risks and uncertainties that may cause actual results to differ
materially from any future results, performance or achievements
expressed or implied by such statements. These risks and uncertainties
are based on a number of factors, including but not limited to: Our
ability to complete the acquisition of access lines from Verizon;
continuing effectiveness of all regulatory approvals for the Verizon
transaction and any adverse conditions contained in required regulatory
approvals for the transaction; for two years after the merger, we may be
limited in the amount of capital stock that we can issue to make
acquisitions or to raise additional capital; our indemnity obligation to
Verizon may discourage, delay or prevent a third party from acquiring
control of us during the two year period following the merger in a
transaction that our stockholders might consider favorable; the ability
to successfully integrate the Verizon operations into Frontier’s
existing operations; the effects of increased expenses due to activities
related to the Verizon transaction; the ability to successfully migrate
Verizon’s West Virginia operations from Verizon owned and operated
systems and processes to Frontier owned and operated systems and
processes; the risk that the growth opportunities and cost synergies
from the Verizon transaction may not be fully realized or may take
longer to realize than expected; the sufficiency of the assets to be
acquired from Verizon to enable us to operate the acquired business;
disruption from the Verizon transaction making it more difficult to
maintain relationships with customers, employees or suppliers; the
effects of greater than anticipated competition requiring new pricing,
marketing strategies or new product or service offerings and the risk
that we will not respond on a timely or profitable basis; reductions in
the number of our access lines that cannot be offset by increases in
High Speed Internet subscribers and sale of other products; our ability
to sell enhanced and data services in order to offset ongoing declines
in revenue from local services, switched access services and subsidies;
the effects of ongoing changes in the regulation of the communications
industry as a result of federal and state legislation and regulation;
the effects of changes in the availability of federal and state
universal funding to us and our competitors; the effects of competition
from cable, wireless and other wireline carriers (through voice over
internet protocol (VOIP), DOCSIS 3.0, 4G or otherwise); our ability to
adjust successfully to changes in the communications industry and to
implement strategies for growth; adverse changes in the credit markets
or in the ratings given to our debt securities by nationally accredited
ratings organizations, which could limit or restrict the availability,
or increase the cost, of financing; continued reductions in switched
access revenues as a result of regulation, competition and/or technology
substitutions; the effects of changes in both general and local economic
conditions on the markets we serve, which can affect demand for our
products and services, customer purchasing decisions, collectability of
revenue and required levels of capital expenditures related to new
construction of residences and businesses; our ability to effectively
manage service quality; our ability to successfully introduce new
product offerings, including our ability to offer bundled service
packages on terms that are both profitable to us and attractive to our
customers; changes in accounting policies or practices adopted
voluntarily or as required by generally accepted accounting principles
or regulators; our ability to effectively manage our operations,
operating expenses and capital expenditures, and to repay, reduce or
refinance our debt; the effects of bankruptcies and home foreclosures,
which could result in difficulty in collection of revenues and loss of
customers; the effects of technological changes and competition on our
capital expenditures and product and service offerings, including the
lack of assurance that our ongoing network improvements will be
sufficient to meet or exceed the capabilities and quality of competing
networks; the effects of increased medical, retiree and pension expenses
and related funding requirements; changes in income tax rates, tax laws,
regulations or rulings, and/or federal or state tax assessments; the
effects of state regulatory cash management policies on our ability to
transfer cash among our subsidiaries and to the parent company; our
ability to successfully renegotiate union contracts expiring in 2010 and
beyond; declines in the value of our pension plan assets, which could
require us to make contributions to the pension plan in 2011 and beyond;
our ability to pay dividends in respect of our common shares, which may
be affected by our cash flow from operations, amount of capital
expenditures, debt service requirements, cash paid for income taxes and
our liquidity; the effects of any unfavorable outcome with respect to
any of our current or future legal, governmental or regulatory
proceedings, audits or disputes; the possible impact of adverse changes
in political or other external factors over which we have no control;
and the effects of hurricanes, ice storms or other natural disasters.
These and other uncertainties related to our business are described in
greater detail in our filings with the Securities and Exchange
Commission, including our reports on Forms 10-K and 10-Q, and the
foregoing information should be read in conjunction with these filings.
We undertake no obligation to publicly update or revise any
forward-looking statements or to make any other forward-looking
statement, whether as a result of new information, future events or
otherwise unless required to do so by securities laws.
Additional Information and Where to Find It
This filing is not a substitute for the definitive prospectus/proxy
statement included in the Registration Statement on Form S-4 that
Frontier filed, and the SEC has declared effective, in connection with
the proposed transactions described in the definitive prospectus/proxy
statement. INVESTORS ARE URGED TO READ THE DEFINITIVE PROSPECTUS/PROXY
STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION, INCLUDING DETAILED
RISK FACTORS. The definitive prospectus/proxy statement and other
documents filed or to be filed by Frontier with the SEC are or will be
available free of charge at the SEC’s website, www.sec.gov,
or by directing a request when such a filing is made to Frontier, 3 High
Ridge Park, Stamford, CT 06905-1390, Attention: Investor Relations.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
Frontier’s stockholders approved the proposed transactions on October
27, 2009, and no other vote of the stockholders of Frontier or Verizon
is required in connection with the proposed transactions.