Louisiana-based CenturyLink has won U.S. antitrust approval for its purchase of Level 3 Communications on condition that it sell certain assets, Reuters reports.
CenturyLink agreed to buy Level 3 last year in a deal valued at about $24 billion. It is seeking to expand its reach in the business communications market and compete with rivals such as AT&T and Verizon.
CenturyLink provides broadband and landline phone services, mainly in rural areas, as well as backhaul, considered the backbone of the internet.
The deal was approved on condition that the companies sell Level 3’s telecommunications networks in Albuquerque, Boise, and Tucson. It must also offer long-term leases called indefeasible rights of use for unused fiber optic cable, also called dark fiber, along 30 intercity routes.
