Complete the sale of ILEC business in 20 states to Apollo Funds
Delivered by the deadline
AI-confirmed · human review in progress Independent AI checks agreed on primary SEC or regulator evidence. Records are now being reviewed by hand, starting with those our customers order.
- Announced
- 4 Aug 2021
- Due
- 31 Dec 2022
- Delivered
- 3 Oct 2022
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The transaction is expected to be roughly leverage neutral, with an expected close in the second half of 2022, subject to customary closing conditions including required regulatory approvals.”
What we found
Evidence strength A What the grades mean
Lumen Technologies completed the sale of its ILEC business in 20 states to affiliates of Apollo Global Management on October 3, 2022, which is within the second half of 2022.
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A Lumen Technologies 10-K filed 2024-02-22
“On October 3, 2022, we and certain of our affiliates sold the portion of our incumbent local exchange ("ILEC") business primarily conducted within 20 Midwestern and Southeastern states to affiliates of funds advised by Apollo Global Management, Inc.” ✓ confirmed on the page
Market reaction: the shares moved -6.3% against the S&P 500 over the three sessions around the disclosure (21 Feb 2024 to 26 Feb 2024). What this measures
Checked 21 Oct 2026.
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Complete
- Deliverable
- Sale of ILEC business in 20 states
- Where
- 20 states
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Medium
- Specificity
- High
- Conditional
- Yes: subject to customary closing conditions including required regulatory approvals
- Depends on
- Regulatory, Counterparty
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Gemini (Google), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Claude (Anthropic), re-read the evidence without being told the outcome and reached the same answer.
Confirmed. This outcome counts towards the company's Kept Score. How verification works
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Report an error in this entry Reference: KI-C-2021-LUMN-018866 · Corrections policy