NJ Board Clears CenturyLink/Level 3 After Settlement
CenturyLink got the green light from the New Jersey Board of Public Utilities for the carrier’s $34 billion buy of Level 3. Board members voted 5-0 to OK the deal at their Wednesday meeting, after the companies agreed to a…
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settlement with the state consumer advocate (see 1708170022). Conditions included promises to deploy broadband in certain areas and to continue to compete for business data services for at least three years. The merger creates “more competition, greater access to services and will accelerate deployment of broadband facilities in less served areas of the state,” Board President Richard Mroz said in a news release. The only other state OK needed is California, and its Public Utilities Commission is expected to vote later this year. The FCC’s 180-day shot clock to review the deal remained suspended at Day 170 on Wednesday. New Jersey makes 24 states and territories that "recognize this transaction is clearly in the public interest,” said CenturyLink Senior Vice President-Public Policy John Jones. “We continue to work with the California Public Utilities Commission and federal regulatory agencies to secure the remaining approvals necessary to reach our target transaction closing date at the end of the third quarter 2017."