December 2016 Vol. 71 No. 12
Newsline
CenturyLink, Level 3 Communications Join Forces
Under a definitive merger agreement, CenturyLink will acquire Level 3 Communications Inc. in a cash and stock transaction valued at approximately $34 billion, including the assumption of debt.
The combined company will have the ability to offer CenturyLink’s larger enterprise customer base the benefits of Level 3’s global footprint, with a combined presence in more than 60 countries. In addition, the company will be positioned to further invest in the reach and speeds of its broadband infrastructure for small businesses and consumers.
“The digital economy relies on broadband connectivity, and together with Level 3 we will have one of the most robust fiber-network and high-speed data services companies in the world,” said Glen Post, CenturyLink CEO and president. “This transaction furthers our commitment to providing our customers with the network to improve their lives and strengthen their businesses.”financial flexibility provided by the combined company’s revenue growth and strong cash flow. For employees, this combination will bring together two highly customer-focused organizations and provide employees growth and advancement opportunities the companies could not offer separately.”
Upon the closing of the transaction, CenturyLink shareholders will own approximately 51 percent and Level 3 shareholders will own approximately 49 percent of the combined company. Glen Post will continue in his role and Sunit Patel, executive vice president and CFO of Level 3, will serve as CFO. The new company will be headquartered in Monroe, LA, and will maintain a significant presence in Colorado and the Denver metropolitan area.
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