Cen­tury Link buys Level 3

The Myanmar Times - - International Business -

US tele­com group Cen­tu­ryLink is ac­quir­ing Level 3 Com­mu­ni­ca­tions for US$34 bil­lion in­clud­ing debt, boost­ing its po­si­tion as a global in­ter­net and fi­bre com­mu­ni­ca­tions provider.

The deal pro­vides a 42 per­cent pre­mium to Level 3 share­hold­ers as of Oc­to­ber 26, when talk about the tie-up be­gan.

The ac­qui­si­tion gives Cen­tu­ryLink, the third largest US tele­com car­rier be­hind Ver­i­zon and AT&T, a pres­ence in more than 60 coun­tries and po­si­tions it to boost its broad­band in­fra­struc­ture for busi­nesses and con­sumers.

Upon clos­ing, Cen­tu­ryLink share­hold­ers will own 51pc and Level 3 share­hold­ers 49pc of the com­bined com­pany.

Cen­tu­ryLink, which be­gan as a re­gional tele­phone firm, be­came the num­ber three US tele­com group in 2010 with the ac­qui­si­tion of the large re­gional car­rier Qwest. –

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