Telecom firm Lumen to sell Latin America business for $2.7 billion By Syndicated Content
Jul 26, 2021 | 6:46 AM
(Reuters) -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.
Shares of Monroe, Louisiana-based Lumen rose 2.5% to $12.95 in premarket trading.
AustralianSuper, the country’s largest pension fund, is also investing in the deal.
The sale is expected to close in the first half of 2022.
Telecom firm Lumen to sell Latin America business for US$2 7 billion
channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
Telecom firm Lumen to sell Latin America business for $2 7 billion
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.