Level 3 to boost backbone with $7.3 bn deal

June 16, 2014

US telecom operator Level 3 Communications announced plans Monday to buy Internet business provider TW Telecom in a deal worth $7.3 billion, including debt.

The deal boost's Level 3's position as the underlying or backbone provider for telecom carriers, governments and enterprises.

The provides TW Telecom with cash and stock and creates a firm with some $25 billion in enterprise value, a joint statement said.

"We believe this is a financially compelling and very strategic acquisition for Level 3 that will enhance our ability to continue to gain market share," said Jeff Storey, president and of Level 3.

"The transaction further solidifies Level 3's position as a premier global communications provider to the enterprise, government and carrier market, combining TW Telecom's extensive local operations and assets in North America with Level 3's global assets and capabilities."

TW is a former unit of Time Warner Communications, which manages corporate computer networks.

The plan, which requires shareholder and regulatory approval, is expected to close after this year.

Explore further: Yahoo Japan to buy eAccess telecom firm for $3.2 bn

Related Stories

Yahoo Japan to buy eAccess telecom firm for $3.2 bn

March 27, 2014

Internet giant Yahoo Japan said Thursday it would buy almost all of domestic telecom company eAccess from its parent Softbank Corp. in a deal valued at around $3.2 billion, or 324 billion yen.

Level 3 to acquire Global Crossing for $2 billion

April 11, 2011

(AP) -- Level 3 Communications Inc. said Monday it will acquire another top long-distance Internet carrier, Global Crossing Ltd., in an all-stock transaction valued at about $2 billion.

Sprint and T-Mobile near merger deal: reports

June 5, 2014

US telecom service firms Sprint and T-Mobile were nearing a deal valued about $32 billion and likely to be scrutinized by anti-trust regulators, US media reported Wednesday.

Taiwan's HTC forecasts first-quarter loss

February 10, 2014

Taiwan's struggling smartphone maker HTC on Monday forecast a first-quarter net loss of up to Tw$3.1 billion ($102.4 million) due to weak sales of new flagship products.

Charter to bid below $135 a share for TW Cable

December 13, 2013

Cable TV operator Charter Communications Inc. is preparing to send a letter offering to buy the much larger Time Warner Cable Inc. for below $135 per share as early as Monday.

Recommended for you

Cryptocurrency rivals snap at Bitcoin's heels

January 14, 2018

Bitcoin may be the most famous cryptocurrency but, despite a dizzying rise, it's not the most lucrative one and far from alone in a universe that counts 1,400 rivals, and counting.

Top takeaways from Consumers Electronics Show

January 13, 2018

The 2018 Consumer Electronics Show, which concluded Friday in Las Vegas, drew some 4,000 exhibitors from dozens of countries and more than 170,000 attendees, showcased some of the latest from the technology world.

Finnish firm detects new Intel security flaw

January 12, 2018

A new security flaw has been found in Intel hardware which could enable hackers to access corporate laptops remotely, Finnish cybersecurity specialist F-Secure said on Friday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.