Level 3 Completes Purchase of ATT Divestiture Assets
Level 3 Communications, Inc. (Nasdaq:LVLT) today announced that its operating subsidiary has purchased certain assets from AT&T Corporation that were ordered divested as a result of the merger between AT&T and SBC Communications Inc. The acquired assets consist of indefeasible rights of use (IRUs) for dark fiber connections to over 200 buildings and more than 1,600 metro fiber route miles in six of the 11 markets where AT&T was required to divest certain assets.
Level 3 will acquire the divested fiber assets in Detroit, Hartford, Kansas City, Milwaukee, San Francisco and St. Louis. Under the terms of the agreement, Level 3 retains intermediate splice rights, which will enable it to add new buildings to the acquired assets.
“With over 25,000 metro fiber route miles and more than 6,500 on-net buildings, Level 3 is continuing to expand the reach of our network in metropolitan areas,” said Kevin O’Hara, president and chief operating officer of Level 3. “The addition of these assets – the majority of which are new to the Level 3 network – builds on our expansive metro footprint and supports our enterprise business strategy by offering additional network access points and enhancing revenue opportunities in key markets.”
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