CenturyLink receives approval from FCC for $24bn acquisition of Level 3

By Pouyan Broukhim

The US Federal Communications Commission (FCC) has given American telecommunications company CenturyLink the green light in its acquisition of fellow US telco, Level 3 Communications.

It is the latest and final regulatory clearance in a line of approvals for the deal, with the US Department of Justice, the California Public Utilities Commission and a number of other US states having also authorised the acquisition.

See also:

“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 1 November 2017.”

The deal is valued at $24bn, with CenturyLink aiming to use the acquisition as a means of expanding in order to compete with the likes of AT&T and Verizon Communications Inc.

Once complete, the combined company will be able to offer customers a broad range of services and solutions, in addition to advancing the company’s technology and bandwidth – both things that will position the firm to challenge some of the big names in the US telco industry.


Featured Articles

Possibilities endless as generative AI takes centre stage

Generative AI is already playing a pivotal role in the way companies are run; the only question is how quickly it can be integrated into everyday tasks

Why companies should be preparing for scope 3 reporting

With a decision looming on the SEC’s proposed changes to climate-related disclosures, leaders should be examining supplier sustainability credentials

People over profit is steering business in a new direction

An unsettling few years has resulted in more and more companies hiring Chief People Officers to implement a culture that prioritises employee wellbeing

Databricks: The phenomenal rise of a data and AI heavyweight

Technology & AI

Business Chief expands portfolio with new look and coverage

Leadership & Strategy

Google at 25: The remarkable rise of a technology colossus

Technology & AI