Report: CenturyLink, Alphabet kick the tires on buying Zayo

Zayo
Bloomberg is reporting that CenturyLink and Alphabet are showing interest in buying Zayo Holdings. (Zayo)

Zayo Holdings has been a frequent topic on the M&A rumor mill, and now CenturyLink and Alphabet are reportedly interested.

Bloomberg reported Friday that CenturyLink and Alphabet were kicking the tires on respective deals to buy Zayo. That speculation led to Zayo's stock increasing by 8% after the markets closed on Friday. Zayo's stock was up 3.5% this morning.

Bloomberg did say that interest by CenturyLink and Alphabet was in the preliminary stages and that there was no certainty that either would place a bid on Zayo. A spokeswoman for CenturyLink said the company doesn't comment on rumors or speculation.

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Zayo, which provides fiber connections for the communications industry across the U.S., Canada and Europe, was reportedly targeted in November for a hostile takeover by Blackstone Group LP and Stonepeak Partners LP, according to Bloomberg. Zayo’s 130,000-mile network in North America and Europe includes metro connectivity to thousands of buildings and data centers.

RELATED: Zayo snaps up Neutral Path for $31.5M

Boulder, Colorado-based Zayo also announced in November that it was splitting into two publicly traded companies with one focused on communications infrastructure and the other on enterprise services.

Suggested Articles

China Mobile tapped into Huawei's 10G PON technology to demonstrate a dual gigabit broadband service that features both wired and wireless broadband.

Orange Business Services announced on Friday that it has launched a think-tank lab to gauge the impact of new technologies on human resources.

MEF is aligning key components this year to help operators orchestrate their services across SDN and NFV-based networks.