Verizon Entering Into Commercial Agreement With A Wholesale Customer
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NEW YORK - Verizon and Sterling Telecommunications today announced they have signed a letter of intent for a commercial agreement that will replace the existing wholesale network leasing arrangement known as Unbundled Network Element Platform (UNE-P).
Verizon's new Wholesale Advantage agreement with Sterling Telecommunications will include restructured pricing and a number of high-value services not offered under the existing government-mandated UNE-P plan. Verizon's Wholesale Advantage offer provides a framework for reaching agreements on negotiated, commercially reasonable terms, and ensures the continued availability of wholesale services after a federal court order that became effective this week. That order rejected existing regulations on which the current wholesale arrangements are based.
Sterling Telecommunications has been a buyer of Verizon's wholesale services under the UNE-P system for more than four years. The company, headquartered in Huntington, N.Y., serves customers in the New York metropolitan market.
"Sterling Telecom is proud to partner with Verizon in this wholesale agreement," said Veronica Honor, Sterling's president. "After years of regulatory uncertainty, we now have a stable product to offer our customers. And the quality of the Verizon network allows customers to have confidence in our product."
Virginia Ruesterholz, president of Verizon's Wholesale Markets Group, said, "This agreement with Sterling Telecom is further evidence that carriers can reach mutually beneficial commercial arrangements that bring stability to the market and benefit end-user customers. I am pleased we are expanding our relationship with Sterling."
A Dow 30 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.