{"id":23067,"date":"2023-11-01T20:05:00","date_gmt":"2023-11-01T20:05:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4255575_AE55575_0"},"modified":"2023-11-01T20:05:00","modified_gmt":"2023-11-01T20:05:00","slug":"lumen-completes-sale-of-emea-business-to-colt-technology-services-for-1-8b","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=23067","title":{"rendered":"Lumen Completes Sale of EMEA Business to Colt Technology Services for $1.8B"},"content":{"rendered":"
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DENVER<\/span>, Nov. 2, 2023<\/span> \/PRNewswire\/ — Lumen Technologies (NYSE: LUMN) closed the sale of its European, Middle Eastern, and African (EMEA) business to Colt Technology Services, headquartered in London<\/span>, for $1.8 billion cash. This transaction represents an attractive multiple (~11x) for Lumen’s EMEA business and delivers significant value to Lumen’s stakeholders.<\/p>\n

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"We’re excited about what this transaction does for our customers and for Lumen," said Kate Johnson<\/span>, Lumen CEO. "Our focus on building deep relationships with strategic partners allows us to simplify our business while delivering a seamless networking experience for our multinational customers. Through our strong relationship with Colt, both companies are well positioned for future growth."    <\/p>\n

Lumen will remain a key strategic partner for Colt’s customers’ needs in North America. The Lumen network remains one of the largest, most deeply peered in the world. A small team of talented Lumen employees will continue to support operations in EMEA.<\/p>\n

Visit here for more information on today’s announcement.<\/a><\/b><\/p>\n

Additional Resources:<\/b> <\/p>\n