CenturyLink up 15%, Level 3 up 6.5% on WSJ report of advanced merger talks
Oct. 27, 2016 1:29 PM ET|By:
Jason Aycock, SA News Editor
CenturyLink (NYSE:
CTL) is off a circuit-break halt up 14.9% on news it's in
advanced talks to merge with Level 3 Communications (NASDAQ:
LVLT), itself up 6.5%, according to
The Wall Street Journal.
A deal could be announced in coming weeks, sources told the
WSJ, but no terms have been reported as yet.
It would be the latest big deal in a consolidating (and still highly competitive) telecom sector.
CenturyLink is set to report earnings Nov. 2, while Level 3 is scheduled for the morning of Nov. 3.