A PYMNTS Company

US: Consolidation continues with FCC clearance of telco merger

By  |  October 27, 2014

The US telecommunications market continues to consolidate as the Federal Communications Commission offered clearance for Level 3 Communications to acquire TW Telecom.

Reports say the $5.7 billion transaction will need to secure shareholder approval, but the deal is one step closer to completion with the FCC’s blessing.

Level 3 specializes in long-distance data communication via the Internet, while TW Telecom focuses on metro office buildings, a market still unclaimed by Level 3, say reports.

The transaction is one of the lesser known telecommunications deals currently in the pipeline for FCC review. The watchdog recently announced plans to halt its merger reviews of Comcast’s plans to acquire Time Warner Cable and AT&T’s plans to acquire DirecTV.

Full content: The Denver Post

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.