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CenturyLink Now Expects Level 3 Transaction To Close In Mid-to-late October

CenturyLink Inc. (CTL) has updated the closing timeframe for its acquisition of Level 3 Communications, Inc. (LVLT).

Century Link now anticipates the Level 3 transaction to close in mid-to-late October 2017. Earlier, the two companies had expected the transaction to close by September 30, 2017.

The anticipation for a revised timeframe is based on the proposed decision filed by the California Administrative Law Judge last Friday, recognizing that the combination of CenturyLink and Level 3 is in the public interest and recommending the California Public Utilities Commission approve the transaction at its October 12 meeting.

"We are working to obtain the remaining approvals, including the State of California, the Department of Justice, and the Federal Communications Commission, and want to give the regulators time to complete their review process," Glen Post III, CenturyLink chief executive officer and president, said.

He added, "We view the slight delay in our projected closing date as manageable, and it does not affect our integration planning process. Both teams are ready to begin the integration process as soon as closing occurs."

by RTT Staff Writer

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