Compass Lexecon was retained by counsel for CenturyLink to analyze competitive effects associated with CenturyLink’s acquisition of Level 3. The Compass Lexecon team, headed by Michael Katz, Hans-Jürgen Petersen, Ka Hei Tse, and Glenn Woroch, analyzed building level competition for Business Data Services (BDS). The team investigated extent and location of competitive fiber facilities relative to U.S. commercial buildings served by optical fiber from both CenturyLink’s and Level 3’s fiber networks. As it is more cost-effective for other fiber competitors to extend their fiber network when there is the prospect of significant demand for bandwidth, a study of estimated demand for bandwidth for these buildings was also conducted. The results of the analyses were presented to both Department of Justice and Federal Communications Commission to assist the client in obtaining regulatory approval for the merger. The team worked closely with in-house counsel for CenturyLink and Level 3 and with outside counsel Ilene Gotts and Monica Smith from Wachtell, Lipton, Rosen & Katz, Yaron Dori and Brandon Johnson from Covington & Burling LLP and Bruce McDonald and Robert Dahnke from Jones Day.