Telecom firm Lumen to sell Latin America business for $2.7 bln
Telecom company Lumen Technologies said on Monday it would sell its Latin American business to private equity firm Stonepeak for $2.7 billion. 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's president for the region.
Reuters | Updated: 26-07-2021 17:40 IST | Created: 26-07-2021 17:11 IST
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Telecom company Lumen Technologies said on Monday it would sell its LatinAmerican business to private equity firm Stonepeak for $2.7 billion.
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's president for the region. Shares of Monroe, Louisiana-based Lumen rose 2.5% to $12.95 in premarket trading.