This excerpt taken from the VZ 8-K filed Feb 29, 2008.
Two-Way Trading to Begin in Verizon Stock on the NYSE
Verizon has been advised by the New York Stock Exchange that beginning on or about March 5 and continuing through the anticipated closing date of the merger, there will be two markets in Verizon common stock on the NYSE: a regular way market and an ex-distribution market.
If a Verizon stockholder sells shares of Verizon common stock (which trades on the NYSE under the symbol VZ) in the regular way market during this time, the stockholder will be selling both his or her shares of Verizon common stock and his or her right to receive shares of Spinco common stock that will be converted into FairPoint common stock in the merger. If a Verizon stockholder sells shares of Verizon common stock in the ex-distribution market (which will trade on the NYSE under the symbol VZ wi) during this time, the Verizon stockholder will be selling only his or her shares of Verizon common stock and will be retaining his or her right to receive shares of Spinco common stock that will be converted into FairPoint common stock in the merger.
Trades under the symbol VZ wi will settle after the closing date of the merger. If the merger is not completed, all trades under this symbol will be cancelled. Investors are encouraged to consult with their financial advisors regarding the specific implications of selling shares of their Verizon common stock on or before the closing date of the merger.
Verizon News Release, page 4
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates Americas most reliable wireless network, serving nearly 66 million customers nationwide. Verizons Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nations most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of nearly 235,000 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit www.verizon.com.
NOTE: This news release contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: materially adverse changes in economic and industry conditions and labor matters, including workforce levels and labor negotiations, and any resulting financial and/or operational impact, in the markets served by us or by companies in which we have substantial investments; material changes in available technology, including disruption of our suppliers provisioning of critical products or services; the impact on our operations of natural or man-made disasters and any resulting financial impact not covered by insurance; technology substitution; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations; the final results of federal and state regulatory proceedings concerning our provision of retail and wholesale services and judicial review of those results; the effects of competition in our markets; the timing, scope and financial impacts of our deployment of fiber-to-the-premises broadband technology; the ability of Verizon Wireless to continue to obtain sufficient spectrum resources; changes in our accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; the ability to complete acquisitions and dispositions; and the extent and timing of our ability to obtain revenue enhancements and cost savings following our business combination with MCI, Inc.