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CenturyLink to buy Level 3 for USD 34 billion
2016-10-31 13:55:00| Telecompaper Headlines
(Telecompaper) US operator CenturyLink has confirmed an agreement to acquire Level 3 Communications for USD 34 billion including debt, extending its push into the business services market. Level 3 shareholders will receive USD 66.50 per share in cash and CenturyLink stock, a premium of 42 percent on Level 3's share price last week before reports first emerged of a possible deal. The acquisition will see CenturyLink shareholders own 51 percent of the combined company and Level 3 shareholders 49 percent.
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Category:Telecommunications