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Mega-Merger: Level 3 Agrees to Buy tw telecom

By Craig Galbraith
June 16, 2014 - News
Continued from page 1

Meantime, Level 3 has been getting stronger. The company’s stock price jumped a whopping 16 percent one day last month after turning a $78 million loss a year earlier into a profit of $112 million last quarter. Enterprise core network services revenue grew 11 percent year-over-year, the ninth consecutive quarter of growth in this area. The company has started to show signs that it’s putting its recent debt-riddled past behind it.

Level 3 also has been active going after more of the fiber market at the expense of AT&T and Verizon.

Wall Street's initial reaction was mixed. tw telecom’s stock was up nearly 7 percent as of 11:11 a.m. ET. Level 3’s, however, was down more than 5 percent on the news. The deal must still pass regulatory muster before getting the green light.

Stay tuned to Channel Partners for coverage on the potential impact this deal will have on the channel. 

Follow senior online managing editor @Craig_Galbraith on Twitter.

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