News Formal

Telecom firm Lumen to sell Latin America business for US$2.7 billion

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

REUTERS -Telecom company Lumen Technologies said on Monday it would sell its Latin American business to private equity firm Stonepeak for US$2.7 ...

REUTERS -Telecom company Lumen Technologies said on Monday it would sell its Latin American business to private equity firm Stonepeak for US$2.7 billion.

The business will operate as an independent, U.S.-headquartered portfolio company of Stonepeak after the deal closes and will be led by Hector Alonso, Lumen's president for the region.Shares of Monroe, Louisiana-based Lumen rose 2.5per cent to US$12.95 in premarket trading.The sale is expected to close in the first half of 2022.

Lumen, which changed its name from CenturyLink Inc last year to refocus its strategy on its fiber optics business, said it would continue to work with the Latin American business to serve joint customers in the region.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RPT-EMERGING MARKETS-Philippine stocks hit 2-month low on China sell-off, virus woesREUTERS
Source: TODAYonline - 🏆 1. / 99 Read more »