CenturyLink to buy ST Telemedia portfolio company Level 3 in $47 bil deal

SINGAPORE (Nov 1): ST Telemedia has agreed to sell one of the companies in its portfolio, Level 3 Communications, Inc., to CenturyLink, Inc., in a cash-and-stock deal worth US$34 billion ($47 billion).

Level 3 is a US Internet service provider for consumers while CenturyLink is one of the largest phone companies in the US with most of its revenue coming from business customers.

The merger would create a more competitive communications company with financial heft to invest in broadband infrastructure for small businesses and consumers.

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