Executives of Level 3 Communications Inc. on Thursday morning rang the opening bell on the New York Stock Exchange to commemorate the transfer of its stock from the NASDAQ to the NYSE under the ticker symbol LVLT.
Yesterday, the communications provider implemented a 1-for-15 reverse stock split of its common stock. The action combined every 15 shares of issued and outstanding Level 3 common stock into one share of common stock.
Level 3’s Jeff Storey (pictured, right), president and COO, and Sunit Patel (left), executive vice president and CFO, rang the opening bell.
Shares of Level 3 were down 10 cents, or 0.43 percent, to $23.15 as of 2:34 p.m. ET.
Earlier this month, the company completed its acquisition of Global Crossing under a merger that Level 3 executives say improves its financial position and the breadth of its worldwide communications business.