Ohio and Utah are the first states to approve the merger of CenturyLink, Inc. (NYSE: CTL) and Level 3 Communications, Inc. (NYSE: LVLT), CenturyLink said.
The merger also received regulatory clearance from the state of Nevada.
The merger, announced Oct. 31, 2016, should allow the combined companies to offer enterprise and wholesale customers a broader and more complementary range of services and solutions, positioning the combined companies to enable the advanced technology and growing bandwidth needs of all customers, including small businesses, large businesses, large multinational enterprises and government entities.
In December 2016, CenturyLink began filing applications with the appropriate federal and state regulatory agencies.
The transaction is subject to the receipt of various regulatory approvals, including review by the US Department of Justice, review by the US Federal Communications Commission, certain state regulatory approvals and other customary closing conditions.
The transaction is also subject to the approval of CenturyLink and Level 3 shareholders at special shareholders meetings scheduled for March 16, 2017. The companies anticipate closing the transaction by the end of third quarter 2017.
CenturyLink is a global communications, hosting, cloud and IT services company enablingms of customers to transform their businesses and their lives through innovative technology solutions. It offers network and data systems management, big data analytics and IT consulting, and operates more than 55 data centers in North America, Europe and Asia. The company provides broadband, voice, video, data and managed services over a robust 250,000-route-mile US fiber network and a 300,000-route-mile international transport network.