Private equity

After more than a year of waiting, Brightspeed finally closed on a $7.5 billion deal to acquire Lumen Technologies’ telecommunications assets in 20 states via its parent company Apollo Global Management.

Underline, the nation’s intelligent community infrastructure platform, is connecting American communities on a foundation of open access fiber. To support existing projects and drive continued US expansion, a fund managed by Ares Management’s Infrastructure Opportunities strategy joins Underline as a strategic investor—adding a scaled global investment manager to the existing investor group. Underline is the first digital infrastructure investment Ares will make through its Infrastructure Opportunities strategy—a leading infrastructure investor with approximately $4.3 billion in assets unde

Lumen Technologies completed one major business divestiture last month and are close to wrapping another. Company CFO and EVP Chris Stansbury said the pair of deals will help the company allocate resources to other products at a time when Lumen is starting to see big growth opportunities. “The company is going to get smaller before it gets bigger again,” Stansbury said.

Industry lawyers and consultants predict the recently enacted $1 trillion infrastructure measure is likely to create more investment opportunities for private-equity firms in areas they already favor, such as telecommunications, while doing little to expand their presence in the government-dominated transportation sec

Consolidated Communications, an US broadband and business communications provider headquartered in Mattoon (IL), secured a key approval for a multi-million investment deal it struck with private equity firm Searchlight Capital Partners, as the Federal Communications Commission signed off on the transaction, conditioned on terms laid out in a Letter of Agreement Consolidated signed with the Department of Justice. Under these terms, Consolidated must designate a US law enforcement contact who will have access

As Frontier Communications moves closer to an expected bankruptcy filing, the Internet service provider told investors that its troubles stem largely from its failure to invest properly in upgrading DSL to fiber broadband.