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Telecom firm Lumen to sell some US business in US$7.5 billion deal

REUTERS: Lumen Technologies said on Tuesday it would sell some of its U.S. business, to Apollo Global Management Inc in a deal valued at US$7.5 billion.

Under the terms of the transaction, Lumen will retain its incumbent local exchange carrier assets in 16 states, as well as its national fiber routes and competitive local exchange carrier) networks, the company said.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Maju Samuel)

Source: Reuters

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