24 Oct CenturyLink to Secure Buyers for Data Center
As we fast approach the last QTR of 2016, numerous events have either unfolded or will continue to further unravel themselves, leaving people questioning the economic conditions of the world around them. First up is Brexit. As you probably have heard, the United Kingdom voted to leave the European Union.
This sent shockwaves through the world financial markets industry, which lost some $3 trillion in value after the results of the vote were announced. Second is the U.S. Presidential election which transpires on November 4th. The uncertainty here as to which candidate will win has started to unnerve the business community here in the United States.
One of the industries which will be most impacted by these world events is the telecom industry. In fact, many vendors are now taking action to protect their financial assets. One such example of this is Century Link. Just last week, this entity announced that it is much closer now in selling off one of its key data centers.
It is highly expected that this will be a done deal no later than by the end of this year. However, the idea of selling off the data center did not just happen out of the blue. Very serious consideration was given to this as early as the third quarter of 2015. Almost a year later, Century Link is now finalizing its list of potential buyers.
According to its CEO, Glen Post, “We have narrowed down the group of final contestants for the property and we have ongoing discussions, negotiations with that group . . . we feel good about where we are headed there and we think we’ll be successful in getting the transaction done.”
Even before the sale of the data center has been completed, there are numerous rumors floating around as to how Century Link will spend the proceeds. Although it has been said by the upper management it should use that money for stock buybacks, debt reduction, and other investment opportunities. However, customers would like to see that money being spent on newer services such as more sophisticated broadband technology and virtualization.
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