I doubt it. The FMV of Fairpoint is about $ 50M. Less after bankruptcy. But integration costs could be several Hundred M. In my opinion, unless there is Stimulus money, or state backing, Frontier won't touch this property until the merger with VZ in complete.
No. The only way FairPoint can hurt is by causing a harder look at it's hearings in regard to Frontier's projected VZ deal. The point is that it may give Frontier a chance to acquire the NE lines on the cheap. I really don't believe FTR is looking for this but they may not be able to refuse under the right circumstances.