Can't help but think that Colt may be having a bit of buyer's remorse... The assets they agreed to buy a year ago were valued so much higher than they are today. I am certain it would cost them money to back out, but they have to be giving it some serious thought.
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Next question is how long APAC will last. Sell off or just shut down?
Colt will regret the purchase, Lumen EMEA makes money with revenues of around $750 p.a but is run on a shoestring, Lumen NA have consistently failed to invest in Europe.
it will close but there will be buyers remorse when they realise what a shambles Lumen's European Business now is - under-resourced, lack of investment over many years, no backfills, and too many people (mainly in Poland) who are cheap but absolutely clueless.
Colt's way of doing things is that if they cannot provide brilliant service then they dop not get involved in things like SD-WAN/SASE. Lumen EMEA's strategy has been to sell it anyway resulting in terrible customer service and that's why customers are running for the hills right now.
There will be mass layoffs after the deal closes.
Would expect the sale to still go thru. Almost all the assets are IRUs or datacenters. As I understand, Colt benefits by having the plant. They have a greater presence in these markets and they eliminate a competitor.