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4-Traders Homepage  >  Equities  >  Nyse  >  Level 3 Communications, Inc.    LVLT

LEVEL 3 COMMUNICATIONS, INC. (LVLT)
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CenturyLink : to sell assets in Boise area to Syringa Networks

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03/16/2018 | 09:18am CEST

CenturyLink announced that the U.S. Department of Justice approved the companys sale of certain former Level 3 metro network assets in the Boise, Idaho area to Syringa Networks, a fibre-optic network provider headquartered in Boise. This sale is subject to other governmental approvals, including the Federal Communications Commission, along with other customary closing conditions.

In the fall of 2017, CenturyLink entered into an agreement with the Department of Justice to divest former Level 3 metro fibre network assets in the metro areas of Albuquerque, N.M.; Boise, Idaho; and Tucson, Ariz., in connection with CenturyLinks acquisition of Level 3 Communications. The sale of the Level 3 Boise area network assets to Syringa Networks, once concluded, will fulfill part of that commitment.

CenturyLink will continue to serve all former Level 3 customers in Boise unless they choose to be served by Syringa Networks following the closing of the sale. Where needed to provide uninterrupted service to its customers in Boise, CenturyLink will purchase network connectivity and services from Syringa Networks.

The proposed sale to Syringa does not include or affect the Boise area networks and business assets CenturyLink operated prior to the Level 3 acquisition. CenturyLink said it retains those assets and will continue to provide a full suite of telecommunications services to residential and business customers in Boise. The financial terms of the transaction were not disclosed.

CenturyLink acquired Level 3 Communications in 2017 for USD 34 billion, including debt.

(c) 2018 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Level 3 Communications, In Technical Analysis Chart | LVLT | US52729N3089 | 4-Traders
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Managers
NameTitle
Glen F. Post Chief Executive Officer
Jeffrey K. Storey President & Chief Operating Officer
Sunit S. Patel Chief Financial Officer & Executive Vice President
Stacey W. Goff Director & Chief Administrative Officer
David D. Cole Director, Controller & Executive Vice President
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