CenturyLink Completes Level 3 Buy
CenturyLink (NYSE:CTL) has completed its acquisition of Level 3 Communications. The deal was first announced last October, and the FCC ...
CenturyLink (NYSE:CTL) has completed its acquisition of Level 3 Communications. The deal was first announced last October, and the FCC approved it yesterday.
The combined company anticipates that approximately 75% of its core revenue will come from business services customers and nearly two-thirds of its core revenue will come from strategic services. CenturyLink's network now connects more than 350 metropolitan areas with more than 100,000 fiber-enabled, on-net buildings, including 10,000 buildings in EMEA and Latin America.
"CenturyLink is now poised to offer an expanded, robust portfolio of communications solutions focused on our customers' networking and IT services needs," said Glen F. Post III, CenturyLink's chief executive officer. "Our customers, from individual consumers to global enterprises, will benefit from our expanded, innovative network solutions, our complementary managed services and our highly talented workforce."
CenturyLink shareholders now own approximately 51% and former Level 3 stockholders now own approximately 49% of the combined company.