Oh how it shows how much they care by selling us off one chunk at a time. Will this money be used to upgrade and maintain what’s left? Nope, it will evaporate into corporates pockets and there still will be no focus on the future. Many managers and directors new this was coming and have circled their wagons for a realm of protection. Quantum Fiber is a hoax.
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Obligations become the responsibility of SoldOffCo. Apollo isn't directly liable for any of it and can let SoldOffCo go bankrupt if they can't flip it. Spoiler: it will be flipped one way another. Resold again or IPO. Just like Embarq. Don't look at the fiber route miles that that Lumen is including. SoldOffCo will have to buy transit from Lumen for any kind of interoffice connection.
The biggest revenue declines were in Enterprise. 4x of the overall decline in consumer. So much for Eddie's golden touch.
Meanwhile the only segment to see an increase was consumer broadband. But don't invest there because it doesn't pencil out...
The lack of growth in all sales channels tells you it’s coming to an end sooner than expected. They still have the dividend cut before the stock craters. The leadership is more worried about the process than the end result.
Google is in talks to buy the remaining 16 states .
Stock is down becuse they did not sell it all! will the 16 states get Lumin branding? No, they are preparing more asset sales, head count reduction, contractor fiber to shut down legascy.
How’s that stock doing? Down 5% on open! Gigs up Jeffy! Nobody believes your bs anymore as you’re a fraud!
So does AGM know that it is likely purchasing an obligation to fulfill the rural broadband deployment that Lumen pocketed governmental payment for but largely failed to execute & falsified time sheets to hide? Who pays back the 7B if not fulfilled?
The two transactions maintain a CLEC or pass through presence for Lumen, light or no maintenance but money based on using the backbone and or Data traffic however they bill it or both.
Think when they find a buyer for the other 16 ILEC property they will do the same and use their Presence as a CLEC with a sweetheart Grandfather Claus allowing their presence at a discount and hold the backbone through out the country and just swim in other peoples hard work while supplying IT services through the other companies maintained network at no cost to them.
Enjoy the moment. Apollo won't be any better. Pump and dump.
Just keep in mind how much debt this company has. 7.5 isn’t squat!
Lumen Technologies Debt/Equity Ratio Historical Data
Date Long Term Debt Shareholder's Equity
2020-03-31 $50.77B $13.29B
2019-12-31 $51.27B $13.47B
2019-09-30 $51.05B $13.67B
Did Story think his brilliant mind was gonna pay this back by performing?! He sold a big chunk of this company! Like a freaking pawn shop a day before payday!
Another Verizon/Frontier scam to enrich executives. Some paid as much as 10 million a year plus perks, options. The United States is a fking mess.
Good riddance Jeff Story & Lumen. Those of us in the states being sold are rejoicing at this moment
- 5 Billion is PEANUTS.
Are they unloading what they consider "dead weight" or desperately trying to raise CA$H to stay afloat? Forget the Union / non-union stuff, this company is showing signs of stagnation and a lack of competitiveness.
The other 16 states will follow soon.