Level 3 Gets Out of Coal Business

Level 3 Communications Inc. on Wednesday announced completing the sale of its coal-mining business, furthering the communications carrier’s strategy to focus on its core operations.

Level 3 previously reached an agreement with an affiliate of Ambre Energy Limited to sell all the common stock of the holding company for the coal mining operations, although the financial terms of the contract were not revealed.

Broomfield, Colo.-based Level 3 said the deal frees the company of liabilities associated with the coal mining business.

The deal closed on Nov. 14, Level 3 noted, and post-closing conditions were satisfied today.

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