Level 3 Communications European Expansion Continues
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Terms of the stock deal were not released.
"The acquisition of BusinessNet significantly accelerates our entry into the UK market," said Colin Williams, Level 3 International's chief executive officer.
"Business Net has an established market within the London business community. Business Net understands both Internet technologies and the UK's competitive telecommunications market."
Last September, Level 3 Communications acquired miknet Internet Based Services GmbH in Frankfurt, Germany. Williams said that like "miknet, BusinessNet shares Level 3's focus on bringing Internet service to business users."
Level 3 Communications is currently building the first international network optimized for Internet protocol technology. The network will include access in the United States, Europe, and Asia. Level 3 Communications has obtained leased access to cross-Atlantic cables and has joined with several telecommunications companies to build a cross-Pacific cable.