Announced
Completed
Financials
Tags
Single Bidder
Private Equity
United States
Friendly
Landline
Acquisition
Domestic
Private
incumbent local exchange carrier
Majority
Completed
Synopsis
Apollo Global Management, a global alternative investment manager firm, completed the acquisition of the incumbent local exchange carrier assets of Lumen Technologies, an American telecommunications company headquartered in Monroe, Louisiana, for $7.5bn. "The team at Lumen has built a great business and we see an incredible opportunity to provide leading edge, fiber-to-the-home broadband technology to millions of its business and residential customers. Our investment will help accelerate the upgrade to fiber optic technologies, and we are excited to have such a high-caliber management team ready to bring faster and more reliable internet service to many rural markets traditionally underserved by broadband providers," Aaron Sobel, Apollo Private Equity Partner.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.