Lumen sells Latin American business to PE firm Stonepeak for $2.7 bn

Lumen Technologies has agreed to sell its Latin American business to private equity firm Stonepeak for $2.7 billion, Reuters reported.
Optical fiber investment
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’ president for the region.

AustralianSuper, the country’s largest pension fund, is also investing in the deal.

The sale is expected to close in the first half of 2022.

Monroe, Louisiana-based Lumen, which changed its name from CenturyLink 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.

Latest

More like this
Related

TikTok’s U.S.-only app: A strategic play for survival and user trust

TikTok is preparing to launch a standalone app for...

Airtel to expand FWA services, selects Ericsson

Bharti Airtel has signed a new agreement with Ericsson...

What are the fiber-optic investment trends in Netherlands?

Fiber-optic investment in the Netherlands has reached a significant...

Telenor acquires GlobalConnect’s consumer fibre business for NOK 6 bn

Telenor has announced the NOK 6.0 billion acquisition of...