Centurylink To Pay 275 000 In Level 3 Acquisition Anti Competition Case
On Thursday, the US Department of Justice (DoJ) said that CenturyLink, now known as Lumen Technologies, will pay to settle a civil contempt claim issued by the DoJ. CenturyLink acquired Level 3 in 2016 for $34 billion in cash and stock, merging two telecoms, networking, and data center giants in the enterprise space. Lumen generated revenues of over $20 billion in 2020. In order to preserve competition when acquisitions of this size and significance take place, US watchdogs preside heavily over how they are managed and completed....