45k user reviews & 1 million votes, over 29k web hosting brands & 85k plans since 2004!
Menu
WHTop → 📋 News → Level 3 Prepares To Bid On Troubled Rivals
Apr, 2002 : Level 3 Prepares To Bid On Troubled Rivals
📅 - The Wall Street Journal reported yesterday that Level 3 Communications Inc., a high-speed communications network operator, is considering the purchase of troubled rivals, including Global Crossing Ltd. However, no specific bid for the bankrupt telecom company is pending.
Having already expressed interest in Williams Communications Group Inc. and Flag Telecom Holdings Ltd., Level 3 has proven that it has the inclination to acquire new telecoms. "We have financial dry powder," Level 3's Chief Executive Officer Jim Crowe told the Wall Street Journal. "We are not among the walking wounded. The over-pessimism in the industry is creating opportunities for us to buy assets. To buy assets makes sense when it (enables us to) acquire customers and lower costs and create cash flow."
Reads: 1398 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/lev040902.cfm Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!
Other news
📅 - Level 3 Signs Multimillion-dollar Contract With United Online - Level 3 Communications, Inc., an IP and colocation services, and broadband transport provider, today announced the signing of a three-year, multimillion-dollar agreement made with United Online, Inc., a value-priced ISP. Under the terms of the contract, United Online is buying (3)Connect Modem service in hundreds of U.S. cities to serve its customers, making Level 3 (www.Level3.com) a primary provider of wholesale dial-up Internet access service for United Online. ?We selected Level 3 because its dial-up network infrastructure provides United Online with an attractive combination of performance, reach and price,? said Mark R. Goldston, chairman, CEO and president of United
📅 - Loudcloud Suspends Prior Revenue Guidance - Sunnyvale, California-based managed services firm Loudcloud (loudcloud.com -> hostinger.com) said late Friday it would suspend its prior revenue guidance for the full fiscal year after one of its largest customers announced it was ceasing operations. Atriax, which provides electronic marketplace services for the financial sector, said Friday it would cease operations. "In light of this, Loudcloud, Inc. today reiterated its previous revenue guidance for the first quarter of fiscal year 2003, which will close on April 30, 2002," the company said. "At this time, Loudcloud is suspending its prior revenue guidance for the full fiscal year, pending its assessment of the impact of Atriax's anno
📅 - Digital River To Provide E-Commerce Operations for infoUSA - Digital River, Inc., a global e-commerce outsource provider, today announced that it has signed a contract to provide complete e-commerce operations for the Consumer Products Division of infoUSA, a business solutions provider. Building a new e-commerce site for infoUSA's (datadiscusa.com) consumer products, Digital River provided hosting and managing services as part of the agreement. The company is also supplying transaction management, physical product fulfillment, 24/7 customer service, fraud prevention and e-marketing services. Featuring best selling titles from infoUSA (infousa.com), such as Select Phone Pro, Business & Consumer Mailing Lists and Business Credit Rating
📅 - Manulife, IBM Sign $850 Million Canadian Contract - IBM Canada Ltd., the Canadian portion of technology giant IBM (ibm.com), announced on Tuesday that it has signed a service agreement with Canadian financial services group Manulife Financial (manulife.com). According to the agreement, IBM will manage Manulife's information technology infrastructure and operations. The contract's value, says IBM, is estimated at about $850 million Canadian over a 10-year period. IBM says it will manage the infrastructure supporting Manulife's North American operations. This includes data centers, help desks, desktop computers and voice and data networks. The agreement will include the transfer of approximately 400 Manulife e
📅 - Internap Extends Service To Accommodate Phoenix-Based Customer - Internap Network Services Corporation, an online, intelligent routing services provider, today announced it is offering service in Phoenix, Arizona, and has already signed a Fortune 500 manufacturer in the region. Part of Internap's (internap.com -> inap.com) virtual extension program, the expansion is part of a new market strategy in which the company expands services once a customer's commitment is confirmed. Because of Internap's mature Service Point footprint of highly redundant backbone connections, patented intelligent routing technology and proactive network operations center, little incremental expense is required. "Internap is excited to be serving the Phoenix market,
📅 - Globix Reorganizes To Emerge From Bankruptcy - Globix Corp., a Web hosting and network services provider, today announced that the United States Bankruptcy Court confirmed the joint pre-packaged Plan of Reorganization filed by Globix and certain subsidiaries. The company plans to emerge from bankruptcy later this month. Calling for bondholders to exchange Globix's (globix.com) outstanding $600 million principal amount of senior notes for their pro rata share of $120 million in new senior secured notes, the company is also calling for about 85 percent of the reorganized company's common stock. Current holders of the preferred stock will receive approximately 14 percent of the new common stock. And all common stock holders
📅 - 
📅 - 
📅 -