Wednesday, May 31, 2006

Level 3 Completes ICG Acquisition

Broomfield, Colorado-based Level 3 Communications has completed its acquisition if ICG Communications. The firm said that it paid 25,975,088 shares of Level 3 common stock and $45M in stock for the firm. Level 3 is acquiring ICG for its transport, IP, and voice services for wireline and wireless carriers. ICG primarily serves Colorado and Ohio. The acquisition of ICG did not include ICG's investments in New Global Telecom or Mpower Holding Corporation.