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Before Torruella, Ripple, *fn1 and Lipez, Circuit Judges.

The plaintiff telecommunications companies brought these consolidated actions in the United States District Court for the District of Puerto Rico against defendants-appellees Telecommunications Regulatory Board of Puerto Rico (“the Board”) and various individual commissioners. They alleged violations of federal and commonwealth law in connection with the arbitration and approval of the companies’ interconnection agreements. On cross-motions for summary judgment, the district court issued an opinion and order granting in part and denying in part summary judgment for the Board, granting in part and denying in part summary judgment for plaintiff-appellee Centennial Puerto Rico License Corporation (“Centennial”), vacating in part the Board’s order on reconsideration and denying in full summary judgment for plaintiff-appellant Puerto Rico Telephone Company, Inc. (“PRTC”). PRTC now seeks review of the district court’s decision. We believe that the Board was correct in all aspects of its order. Therefore, we affirm in part and reverse in part the judgment of the district court and remand for proceedings consistent with this opinion.

I BACKGROUND

 
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