CenturyLink (NYSE:CTL) shares were just lower pre-market Friday after Reuters cited sources close to the matter as saying four private equity firms have teamed up to bid on the company’s data center business. Sources said private equity firms GTCR, Charlesbank Capital Partners, Berkshire Partners and Stonepeak Infrastructure Partners formed a consortium in an attempt to acquire the data centers. The provider of internet and phone services is looking to sell the business for over $2.5 billion, the report said, adding there is no guarantee that the buyout consortium’s bid will be successful.
The stock decreased 2.14% or $0.6 during the last trading session, hitting $27.44. About 4.50M shares traded hands or 2.97% up from the average. Centurylink Inc (NYSE:CTL) has risen 9.40% since February 8, 2016 and is uptrending. It has underperformed by 7.09% the S&P500.
CenturyLink, Inc. is an integrated communications company. The company has a market cap of $15.08 billion. The Firm is engaged in providing an array of communications services to residential and business customers. It has a 15.31 P/E ratio. The Company’s divisions include Business and Consumer.
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