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FCC OKs CenturyLink’s $34B Buy of Level 3

The Federal Communications Commission has cleared CenturyLink‘s (NYSE: CTL) proposed $34 billion acquisition of Level 3 Communications (NYSE: LVLT).

CenturyLink said Monday the FCC approval came two weeks after the California Public Utilities Commission cleared the acquisition at its Oct. 12 meeting.

John Jones, senior vice president for public policy and government relations at CenturyLink, said the FCC approval suggests that the company has all the required regulatory clearances to conclude the transaction.

Jones added that CenturyLink expects to close the deal Wednesday, Nov. 1.

The company noted that the U.S. District Court for the District of Columbia also ratified on Oct. 4 an asset preservation stipulation under a consent decree between CenturyLink and the Justice Department.

The deal originally announced in October 2016 has approval from DOJ and clearances from 25 states and territories.

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