Apollo In Talks To Acquire Lumen's Assets In An Over $5B Deal: Bloomberg
byAnusuya LahiriBenzinga Staff Writer
July 14, 2021 12:09 AM
1 min read
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  • Apollo Global Management Inc APO discussed acquiring a portfolio of assets from communications infrastructure provider Lumen Technologies Inc LUMN, Bloomberg reports.
  • Apollo aims to acquire Lumen’s consumer operations in certain U.S. states in a transaction valued at over $5 billion.
  • Lumen operates a fiber network spanning about 450,000 miles. In addition to serving business and government clients, its consumer business provides internet access to suburban and rural U.S. areas.
  • Lumen has been actively looking at selling non-core assets to unlock value.
  • In May, Apollo agreed to acquire Verizon Communications Inc’s VZ media division.
  • Price action: LUMN shares traded lower by 0.19% at $13.43 on the last check Tuesday.

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