CenturyLink to buy Level 3 in $34 billion telecom tie-up

CenturyLink will buy Level 3 Communications, which runs infrastructure that allows businesses connect to the internet, in a $34 billion deal. The tie-up with Level 3 will provide CenturyLink, which has historically focused on phone networks, the ability to increase its fibre-optic capacity, something that is especially important as it works to bring broadband internet to rural areas.

“The digital economy relies on broadband connectivity, and together with Level 3 we will have one of the most robust fiber network and high-speed data services companies in the world,” said Glen Post, CenturyLink’s chief executive.