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Level 3 Communications CEO Jeff Storey told investors that additional mergers and acquisitions are not essential to the company’s growth and success because it already has the right mix of assets and products to be competitive.
While not ruling out further acquisition opportunities, the company is not making them a requirement, Storey said at the Deutsche Bank Media, Internet & Telecom Conference.
“We’ll continue to … be opportunistic about it,” Storey said, as quoted by Fierce Telecom. “The benefit of our position is we don’t have to do M&A. We’re in a position where we have the resources, have the network and the products and services that the market is after so M&A is an option, but it’s not a necessity.”
The company recently announced that it expanded its local network presence in Northern California by placing additional fiber in existing electrical conduit, which will speed up delivery of new circuits while providing diverse access paths into area buildings, it said.
The service provider isn’t afraid to support its internal growth efforts with targeted acquisitions of regional service providers, though. Level 3’s acquisition of IP Networks, for example, gave it 750 route miles of fiber connecting 140 enterprise buildings and 33 data centers.
Storey said the company works “from an organic perspective by building to markets we don’t have or deeper within markets or to data centers where our customers want us to be.”
Competitors such as cable are becoming a bigger threat to companies like Level 3. Comcast’s potential acquisition of Time Warner Cable would make it an even stronger retail and wholesale competitor, but Storey said to remain competitive and continuing growing, companies have to focus on like customer service.
RT @TBImasteragent: aEverything we are doing is about business process is no longer a convo with the IT Director - these convos allow TBI pa
June 21 2018 @ 18:10:01 UTC
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June 21 2018 @ 17:05:07 UTC