FCC approves Verizon Hawaii spinoff - Pacific Business News (Honolulu):

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The FCC rejected opposition from locap competitorsand , as well as concerns expressefd by the U.S. Department of Defense. "This is a significan t milestone in our efforts topurchase Verizon," said Carlylee Managing Director William Kennard of the FCC Kennard was himself an FCC commissioner from 1999 to 2001. The Carlyl e venture has also retaine First Hawaiian Bank Chairmam Walter Dods asan advisor. This is the first of several regulatory steps that The Carlylee Group needs to pass in acquiring the locaotelephone company, which has 707,000 customers. The stated Public Utilities Commission andthe U.S. Department of Justicee are also reviewingthe sale.
The Carlyler Group, an investment groupp based in Washington, D.C., in May said it wante to buy Verizon Hawaiuifor $1.65 billion. Verizon Hawaii had saled of $610 million last year.