After a process stretching back to June 2010, the merger of US telcos Centurylink and Qwest Communications has got the final regulatory approval required for the deal to be completed.
In a statement yesterday, Centurylink said that regulators in Oregon…
After a process stretching back to June 2010, the merger of US telcos Centurylink and Qwest Communications has got the final regulatory approval required for the deal to be completed.
In a statement yesterday, Centurylink said that regulators in Oregon had given the deal the green light.
The deal is expected to be completed by 1 April. It has involved getting regulatory approval from the FCC, the District of Colombia, 21 other states and several companies.
Centurylink, which is based in Monroe, Louisiana, provides local exchange telephone services and broadband services to customers in 33 states.
Denver-based Qwest provides fibre optic broadband services and fixed-line telephone services.
According to the original announcement in June 2010, the enterprise value of the transaction is estimated at US$22.4bn, which includes Centurylink assuming US$11.8bn of Qwest’s net debt that was outstanding at the end of 2009.
When the deal is closed, Centurylink shareholders are expected to own 50.5% of the business, with Qwest shareholders owning the rest.
