Apollo plotting USD5bn swoop for Lumen’s consumer operations

15 Jul 2021

Apollo Global Management is in talks to acquire a portfolio of assets from Lumen Technologies – the US telco formerly known as CenturyLink. According to Bloomberg, which cites people with knowledge of the matter, the two parties are discussing a USD5 billion deal, which will carve out Lumen’s consumer operations in certain US states. A deal, if completed, could be announced in coming weeks, the sources indicated. Terms have not been finalised, however, and it is possible that the talks could collapse.

According to TeleGeography’s GlobalComms Database, CenturyLink was rebranded as Lumen Technologies in September 2020 and the company’s legal name was formally changed from CenturyLink Inc. to Lumen Technologies Inc. on 22 January 2021. The telco served 4.728 million broadband customers as of 31 March 2021.

United States, Lumen Technologies (formerly CenturyLink)