Allnet and Lexitel will merge by December.

The new company being formed through the merger of Allnet Communications Services and Lexitel has not been named. Each will receive half of the new company’s stock, Allnet spokesman Steve Ingish said. The companies said they modified a previous agreement by reducing from $15 million to $3 million the cash payment that Allnet shareholders would receive immediately. The merger is subject to approval by Allnet and Lexitel shareholders and state regulatory agencies.