120-Day Review Underway for Apollo/Lumen Deal

The 120-day initial review period for Apollo's purchase of Lumen's ILEC assets began Monday, said the Committee for the Assessment of Foreign Participation in the U.S. Telecom Services Sector in a filing in docket 21-350. The FCC "will be notified promptly" if a 90-day secondary assessment is needed. The deal is awaiting approval from the FCC, New Jersey and Virginia. A Pennsylvania Public Utility Commission administrative law judge recommended approval in March (see 2203300029).