Apollo Global Management (APO -3.7%) is in negotiations to buy a group of assets from communications infrastructure company Lumen Technologies (LUMN +2.5%) in a potential deal valued at more than $5B, Bloomberg reports, citing people with knowledge of the matter.
The deal would encompass Lumen's consumer operations in certain U.S. states, they said. If an agreement is reached, it could be announced in coming weeks, Bloomberg said. Still, terms haven't been finalized and the talks could fall apart.
Lumen, formerly called CenturyLink, operates a fiber optic network of ~450K miles and serves customers in more than 60 countries, according to the company's description in its press releases.
"We are actively looking at selling non-core assets to unlock value in our business, further accelerate deleveraging and implement potential buyback programs," Lumen CEO Jeff Storey said during the company's earnings call in May.
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The most recent investors who bought it out of bankruptcy did not in fact buy "the company." They bought just some of the assets. This meant they could dump that entire union-based labor negotiation system:
By buying the Hostess assets out of bankruptcy, Apollo and Metropoulos took them on free of employee benefits and other labor obligations that had weighed down the company. hostess 2.0
5th Revolution - Storeybook poolside
Apollo Global in talks to buy CTL for 5 billion what... pesos. Not worth it in dollars.
Leon David Black (born July 31, 1951)[1] is an American investor, best known as the co-founder, and former-CEO of private equity firm Apollo Global Management. Black stepped down as CEO and chairman in 2021 after revelations that he paid Jeffrey Epstein $158 million for family office tax-related advice over the period from 2012 to 2017.[2][3]
Nate Edwards, At&T douche
If this sell goes through then CTL = Frontier 2.0
And there is why they have been trying to polish that tu-d, to make it look good to someone by lowering head count and costs. Good luck boys and girls.