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Apollo Transaction
Resource Center

Lumen has announced the sale of parts our network, including our local fiber and copper network, broadband-enabled homes and businesses, fiber- and copper-fed buildings, lit towers, and central offices in a 20 state region.

Lumen will retain our national fiber routes on most networks in these states, which allows us to focus our investments on strengthening our national fiber network.

Why Apollo, and why now?

We want to ensure that the needs of our customers are met at the highest quality. Apollo is a high-growth, global alternative asset manager with a more than three-decade track record of investing in and working with leading management teams to build and transform great businesses. The firm has extensive experience building new companies via corporate carve-outs like this and investing in growth and transformation of telecommunications and infrastructure assets.

This is a win for us, for Apollo and for the employees and customers in the communities included in this transaction.

In addition, the sale to Apollo reinforces Lumen’s strategy to achieve maximum shareholder value and is a win-win for both companies.

What you can expect

For the foreseeable future, it’s business as usual until the transaction closes, which we anticipate in the second half of 2022.

About the Transaction

What Does Lumen Retain?

What Will Apollo Acquire?

21mm Enabled Units

7mm Enabled Units

2.4mm Fiber Enabled Units

0.2mm Fiber Enabled Units

3.4mm Broadband Subscribers

~1.3mm Broadband Subscribers

687k Fiber Subscribers

59k Fiber Subscribers

 

 

Resources and information to help

  • Press Release
  • VIEW