Level 3 Completes WilTel Acquisition

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Level 3 Communications, Inc., a communications and information service company, today announced that it has completed its acquisition of WilTel Communications Group, LLC. As consideration, Level 3 has paid Leucadia National Corporation, 115 million shares of Level 3 common stock and $386 million in cash.

As a part of the transaction, Level 3 acquired the WilTel subsidiary, Vyvx, LLC, a broadcast services provider to media and entertainment industry.

"Due to the unique strategic fit between the two companies and Level 3's past integration experience, we remain confident in our ability to successfully combine the businesses and conclude a smooth transition for customers. We commenced integration planning immediately after signing the definitive agreement in October, and we believe we are well positioned for a smooth integration process in keeping with our projected schedule," said Kevin O'Hara, president and chief operating officer of Level 3. -- This message may have been cut off and the rest will only be shown to members. To become a member, click here --