CenturyLink CTL 2,49 +0,13 +5,51% has completed its acquisition of Level 3 Communications. In their press-release (CenturyLink completes acquisition of Level 3), they claim they are now positioned to:
- Offer a broader, innovative product portfolio of network solutions and advanced IT services designed to meet complex technology and threat protection needs
- Deliver these solutions and services to enterprise, government, wholesale and consumer customers over a large-scale, fiber-rich global network
- Continue to invest in the reach and speeds of its broadband infrastructure for small businesses and consumers.
As previously reported in CenturyLink moves on Level3, Level 3 stockholders get cash and shares. They will receive $26.50 USD/share in cash, and 1.4286 shares of CenturyLink for each Level 3 share they hold.
“Our goal is to be the world’s best networking provider and we have the ability to achieve this as one company. CenturyLink is focused on providing a differentiated experience for our customers, while driving profitable growth and increasing free cash flow per share. Our scale and experience will enable us to deliver on behalf of our customers, employees and our shareholders.” – Jeff Storey, President and COO, CenturyLink
CenturyLink now gains access to Level 3’s worldwide network and customer base. I know they have been talking with various Level 3 customers over the last few months. I’d expect more reassuring customer visits from the new CenturyLink account teams in the future.
“CenturyLink is now poised to offer an expanded, robust portfolio of communications solutions focused on our customers’ networking and IT services needs. Our customers, from individual consumers to global enterprises, will benefit from our expanded, innovative network solutions, our complementary managed services and our highly talented workforce.” – Glen F. Post III, CEO, CenturyLink
The company remains headquartered in Monroe, Louisiana, USA, but will also have a significant centre of gravity in the Denver, Colorado, area where Level 3 was headquartered.
