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Telecom firm Lumen to sell some US business in $7.5 bln deal

Aug 3 (Reuters) - Lumen Technologies said on Tuesday it would sell some of its U.S. business, to Apollo Global Management Inc in a deal valued at $7.5 billion.

Under the terms of the transaction, Lumen will retain its incumbent local exchange carrier assets in 16 states, as well as its national fiber routes and competitive local exchange carrier) networks, the company said. (Reporting by Ankur Banerjee in Bengaluru; Editing by Maju Samuel)

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