CenturyLink, Level 3 Seek Federal Regulatory OKs
Seeking federal OK to buy Level 3, CenturyLink applied at the FCC to transfer control of domestic and international Communications Act Section 214 authorizations and sent Hart-Scott-Rodino Antitrust reports to the FTC and DOJ, the companies said Wednesday. Regulators are…
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expected to OK the $34 billion deal, which also needs state approvals (see 1610310033). “The Transaction will benefit customers and competition,” the companies said in the FCC application dated Monday. In a statement Wednesday, CenturyLink Senior Vice President-Public Policy John Jones said the combination “will provide customers with state-of-the-art services over a global platform that meets their growing demand for bandwidth, helps them manage today’s complex communication services and provides them with more robust cybersecurity protections. This merger will help us compete more effectively, thus increasing opportunities for our customers, employees and the communities we serve.”