MONROE, La., March 14, 2018 -- CenturyLink, Inc. (NYSE:CTL, news, filings) announced today that the U.S. Department of Justice has approved the sale of certain former Level 3 metro network assets in the Albuquerque, N.M., area to Unite Private Networks (UPN), a leading provider of high-capacity, fiber-based communication networks headquartered in Kansas City, Mo. The sale is subject to other governmental approvals, including the Federal Communications Commission, along with other customary closing conditions.
Last fall, CenturyLink entered into an agreement with the Department of Justice to divest former Level 3 metro fiber network assets in the metro areas of Albuquerque, N.M.; Boise, Idaho; and Tucson, Ariz., in connection with CenturyLink’s acquisition of Level 3 Communications, Inc. The sale of the Level 3 Albuquerque area network assets to UPN, once concluded, will fulfill part of that commitment.
CenturyLink will continue to serve all former Level 3 customers in Albuquerque unless they choose to be served by UPN following the closing of the sale. Where needed to provide uninterrupted service to its customers in Albuquerque, CenturyLink will purchase network connectivity and services from UPN.
“The acquisition of the former Level 3 network in Albuquerque will allow UPN to serve business customers in Albuquerque almost immediately upon closing, accelerating our initial plans to service the business community,” said Jason Adkins, President of Unite Private Networks. “Once the transaction is approved, we will quickly work on deploying 100 Gigibit capabilities in Albuquerque.”
The proposed sale to UPN does not include or affect the Albuquerque area networks and business assets CenturyLink operated prior to the Level 3 acquisition. CenturyLink retains those assets and will continue providing a full suite of leading edge telecommunications services to residential and business customers in Albuquerque.
The financial terms of the transaction were not disclosed.
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CenturyLink (NYSE: CTL) is the second largest U.S. communications provider to global enterprise customers. With customers in more than 60 countries and an intense focus on
the customer experience, CenturyLink strives to be the world's best networking company by solving customers' increased demand for reliable and secure connections. The company also serves as its customers' trusted partner, helping them manage increased network and IT complexity and providing managed network and cyber security solutions that help protect their business.
About Unite Private Networks
UPN provides high-bandwidth, fiber-based communications networks and services to schools, governments, carriers, data centers, hospitals, and enterprise business customers across a 21 state service area. Service offerings include dark and lit fiber, private line, metro-optical Ethernet, Internet access, data center services, and other customized solutions. Headquartered in Kansas City, MO, UPN has been providing customer focused communications solutions since 1998. For more information on UPN, please visit www.uniteprivatenetworks.com.
Forward Looking Statements
Except for the historical and factual information contained herein, the matters set forth in this release, including statements regarding the expected timing and benefits of the proposed transaction, and other statements identified by words such as "will," "expects," "plans," "intends" and similar expressions, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: the ability of the parties to timely and successfully receive the required approvals of regulatory agencies, the ability of the parties to achieve all required licenses or authorizations, and potential changes in regulation, competition or technology. There can be no assurance that the proposed transaction described above will in fact be consummated in the manner described or at all. You should be aware that new factors may emerge from time to time and it is not possible for us to identify all such factors nor can we predict the impact of each such factor on the proposed transaction. You should not place undue reliance on these forward‑looking statements, which speak only as of the date of this document. Unless legally required, CenturyLink and Unite Private Networks undertake no obligation and each expressly disclaim any such obligation, to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Linda M. Johnson
Unite Private Networks