MONROE, La., Feb. 14, 2017 /PRNewswire/ — Ohio and Utah are the first states to approve the merger of CenturyLink, Inc. (NYSE: CTL) and Level 3 Communications, Inc. (NYSE: LVLT). The merger also received regulatory clearance from the state of Nevada.
“The Ohio and Utah approvals for the CenturyLink – Level 3 merger indicate that following their review, these states understand that this merger is focused on the enterprise business market and will create more services and opportunities for the combined companies’ customers, employees and the communities we serve,” said CenturyLink Senior Vice President for Public Policy and Government Relations John F. Jones. “We continue to believe that policymakers, interested in advancing their states in an evolving internet economy, recognize that strong networks are key to our country’s future economic development, job creation and ability to stay connected.”
The merger, announced Oct. 31, 2016, should allow the combined companies to offer enterprise and wholesale customers a broader and more complementary range of services and solutions, positioning the combined companies to enable the advanced technology and growing bandwidth needs of all customers, including small businesses, large businesses, large multinational enterprises and government entities.
In December 2016, CenturyLink began filing applications with the appropriate federal and state regulatory agencies. The transaction is subject to the receipt of various regulatory approvals, including review by the U.S. Department of Justice, review by the U.S. Federal Communications Commission, certain state regulatory approvals and other customary closing conditions. The transaction is also subject to the approval of CenturyLink and Level 3 shareholders at special shareholders meetings scheduled for March 16, 2017. The companies anticipate closing the transaction by the end of third quarter 2017.
