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Lumen considering sale of assets in Wyoming, Montana, North Dakota, South Dakota, report says

21 Nov 2022

Lumen Technologies has enlisted Goldman Sachs to help sell its network assets in four states across the Midwest and Western US, Fierce Telecom reports, citing sources familiar with the matter. Lumen is looking to offload its assets in Wyoming, Montana, North Dakota and South Dakota, and the transaction is being pitched under the name ‘Project Yellowstone’. Lumen is keen to offload the assets in a single transaction, rather than splitting them apart and will pursue wholesale agreements using the divested infrastructure. No asking price has been attached to the Project Yellowstone pitch, the source added.

TeleGeography notes that – if it comes to fruition – the deal would represent Lumen’s fourth major asset sale in recent years. This summer the telco closed the sale of its Latin America business to Stonepeak for USD2.7 billion, and in October it concluded the sale of its ILEC assets in 20 states to Apollo-backed Brightspeed for USD7.5 billion. Most recently, Lumen announced plans to sell its EMEA business to Colt Technology Services for USD1.8 billion. That deal was announced earlier this month and is expected to close in late 2023.

United States, Lumen Technologies (incl. Quantum Fiber/CenturyLink)

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