FCC approves CenturyLink-Level 3 merger
2017-10-31 14:34 by Daniela
Roughly a year since it was announced, CenturyLink has received all of the necessary regulatory approvals to complete its $34 billion acquisition of Level 3 Communications. The Federal Communications Commission (FCC) has approved the merger with minor restrictions.
"The FCC's approval of CenturyLink's acquisition of Level 3 is great news and means we now have all the regulatory approvals we need to close the transaction," said CenturyLink Senior Vice President for Public Policy and Government Relations John F. Jones. "We anticipate closing the transaction effective November 1, 2017."
With the deal, CenturyLink said it is seeking to expand its reach in the business communications market and compete with AT&T Inc. and Verizon Communications Inc.
The combined company will offer customers a broader and more complementary range of services and solutions, and enable the advanced technology and growing bandwidth needs of its business, government and consumer customers, CenturyLink said.
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