Level 3 Completes Purchase of BellSouth Assets Divested by AT&T Inc.
BROOMFIELD, Colo., Oct. 16 / -- Level 3 Communications, Inc. (NASDAQ:LVLT) today announced that its operating subsidiary has purchased certain assets from AT&T Inc. (NYSE:T) that were divested as a result of the merger between AT&T and BellSouth. The acquired assets consist of indefeasible rights of use (IRUs) for dark fiber connections to 27 buildings as well as more than 450 metro fiber route miles in the nine markets where AT&T was required to divest assets.
Level 3 has acquired divested fiber assets in Atlanta; Birmingham, Ala.; Charlotte, N.C.; Chattanooga, Tenn.; Jacksonville, Fla.; Knoxville, Tenn.; Nashville, Tenn.; Orlando, Fla.; and South Florida. Under the terms of the agreement, Level 3 retains intermediate splice rights, which will enable it to add new buildings to the acquired assets.
"The purchase of these new assets further expands the metro market reach of the Level 3 network," said Raouf Abdel, president of Level 3's Business Markets Group. "The ability to add new buildings and offer the full portfolio of Level 3 services in each of these markets provides additional growth opportunities and reinforces our commitment to providing customers with facilities-based access to a comprehensive range of network solutions.
"This acquisition does not require the type of integration associated with recent metro and backbone transactions. The addition of these assets on favorable terms parallels Level 3's previously announced acquisition of divested assets following the merger of AT&T Corp. and SBC Communications Inc."
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ:LVLT), an international communications company, operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, and content delivery and media distribution services. These services provide the building blocks to enable Level 3's customers to meet their growing demands for advanced communications solutions. The company's Web address is http://www.level3.com/.
FCMN Contact: Chris.Hardman@Level3.com
Source: Level 3 Communications, Inc.
CONTACT:media, Josh Howell, +1-720-888-2517, or Chris Hardman,
+1-720-888-2292, or investors, Robin Grey, +1-720-888-2518, or Valerie
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Web site: http://www.level3.com/
