CenturyLink to buy Level 3 Communications for $34 billion
CenturyLink announced an agreement to buy Level 3 Communications for $34 billion in cash and stock. With the acquisition, CenturyLink -- the nation’s fourth largest telecommunications company with a global network serving business customers and local networks in 22 states -- would become the nation’s second largest US carrier serving enterprise business customers. Level 3 operates a 200,000 route mile global fiber network, including more than 350 metropolitan areas, and is the second largest provider of fiber ethernet services to business, just behind AT&T.
Coming on the heels of the recent AT&T/Time Warner merger announcement, this deal is the first of what will likely be further consolidation in the telecom and media industries.
Links:
CenturyLink to acquire Level 3 Communications (CenturyLink, Oct. 31, 2016)
CenturyLink to Acquire Level 3 Communications (CenturyLink, Oct. 31, 2016)
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