Level 3 Agrees to Purchase Global Crossing

Jay Ashworth jra at baylink.com
Mon Apr 11 09:22:11 CDT 2011


----- Original Message -----
> From: "William Allen Simpson" <william.allen.simpson at gmail.com>

> http://www.bloomberg.com/news/print/2011-04-11/level-3-agrees-to-acquire-global-crossing-in-deal-valued-at-1-9-billion.html
> 
> 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 &
> Co.

Let me see if I have that straight.

We're *admitting* in public that the result will be to make prices go up for 
customers?  Wow... Justice is going to have a field day with that.

Cheers,
-- jra




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