FairPoint, unions near deal
FairPoint Communications and two unions have reached a tentative agreement on a new contract that could end a four-month strike and bring employees back to work.
The Bangor Daily News reported that the International Brotherhood of Electrical Workers and the Communications Workers of America are expected to vote this weekend on the new contract, which they and FairPoint said would “provide employees with wages and benefits that are among the best in northern New England.” About 800 FairPoint workers in Maine and another 900 workers in New Hampshire and Vermont have been on strike since last Oct. 17.
FairPoint’s stock (NASDAQ: FRP) increased by nearly 4% to $16.73 on Thursday afternoon, shortly after the tentative agreement was announced.
Source: Bangor Daily News
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