- July 14, 2021
- Posted by: Stratford Team
- Category: Business
Lumen Technologies, formerly known as CenturyLink, is reportedly in negotiations to sell off its consumer operations to investment management firm Apollo Global Management.
The deal, which would include the telecom‘s consumer business in certain U.S. states, is valued at more than $5 billion, according to a report published Tuesday by Bloomberg that cited people with knowledge of the matter.
Lumen Technologies told CRN that while it doesn’t comment on specific rumors or speculation, the company is “excited” about the future of its consumer business and is investing in enhanced product capabilities, expanding its fiber footprint and improving digital interaction with its consumer customers.
“As a normal part of our business, we also evaluate all aspects of our business to ensure we are using our assets to deliver the best value for our customers, and shareholders. If we see opportunities to increase value with alternate approaches, we look…
