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Level 3 Agrees to Purchase Global Crossing
From: William Allen Simpson <william.allen.simpson () gmail com>
Date: Mon, 11 Apr 2011 10:13:49 -0400


The deal will combine two unprofitable companies with total revenue of
$6.26 billion as of last year, and cut annualized capital spending by
about $40 million, according to the statement. It will also help reduce
the pressure on prices, which have declined by as much as 30 percent a
year in the industry, said Donna Jaegers, an analyst at DA Davidson &

“This is what telecom has needed for a long time,” said Denver-based
Jaegers, who recommends buying both stocks. “You have way too many

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