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Tag: telecom
Rogers CEO: telecom industry must provide better time-savings for its customers
2014-06-16 23:16:20| Telecom - Topix.net
The head of Rogers Communications says the telecom sector needs to do a better job in providing technology that reduces how much time their customers spend on daily tasks like shopping, banking and travelling.
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Level 3 to buy tw telecom to expand US fiber network
2014-06-16 23:16:19| Telecom - Topix.net
Level 3 Communications Inc will buy internet services provider tw telecom Inc for more than $5.6 billion in cash and stock to expand its commercial fiber network in the United States.
Level 3 to Buy TW Telecom for About $5.6 Billion
2014-06-16 17:07:36| Telecom - Topix.net
Level 3 Communications Inc. said Monday that it has agreed to buy TW Telecom in a deal worth about $5.6 billion.
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Level 3 to buy tw telecom for USD 7.3 bln
2014-06-16 15:17:00| Telecompaper Headlines
(Telecompaper) Level 3 Communications has agreed to buy tw telecom for a combination of cash and shares, valuing the operator at USD 7.3 billion including debt. Tw shareholders will receive USD 10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom they own. This values tw telecom at USD 40.86 per share, versus USD 36.34 at closing the day before the deal was announced. The takeover substantially strengthens Level 3's North American network, providing key network assets and building connections. The company expects USD 200 million in annual adjusted EBITDA savings and USD 40 million in capex savings from the takeover. In total, the net synergies are estimated at USD 2 billion, and around 70 percent of the EBITDA savings should be realised within 18 months of closing the takeover. Level 3 estimates the one-time integration costs at USD 170 million. It expects the transaction to add to free cash flow per share a year after the deal closes. Despite taking on USD 1.6 billion in debt from tw, Level 3 said the enlarged group will have lower leverage. The company has secured USD 3 billion in financing for the takeover and the support of its largest shareholder, ST Telemedia with a 23 percent stake. Pending regulatory and shareholder approval, the acquisition is expected to close in Q4.
Level 3 Communications to buy TW Telecom in $7.3 billion deal
2014-06-16 15:07:52| Telecom - Topix.net
Level 3 Communications Inc. and tw telecom have reached a deal, intended to qualify as a tax-free reorganization, whereby Level 3 will acquire tw telecom in a stock-and-cash transaction valued at $7.3 billion, or $40.86 per share based on market close as of June 13. Under the terms and subject to the conditions of the agreement, tw telecom ... (more)
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