WHITE RIVER JUNCTION, Vt.—A consortium of towns joining together to establish a high-speed Internet network says it has obtained a commitment for $85 million in financing from an investment bank.
East Central Vermont Community Fiber Network, which is also known as ECFiber, will enter a deal with Oppenheimer & Co. to find investors to help pay for construction of the network, according to state Rep. Jim Masland, D-Thetford, who serves on the organization's board.
Oppenheimer anticipates raising the money by October, he said.
The announcement came after FairPoint Communications unveiled plans to bring new or expanded high-speed Internet access to 90 Vermont towns and villages, including 14 in the Upper Connecticut Valley.
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Information from: Lebanon Valley News, http://www.vnews.com
