Level 3 Looking To Buy

from the moving-on-up dept

A few months back we had a story about the history of backbone provider Level 3, and its fanatical support from folks in Omaha. With a new vault full of money from Warren Buffet the company is hoping to use this telecom downturn to buy out other companies for pennies on the dollar. Unfortunately, they find themselves competing with a bunch of wealthy finance companies that are seeing opportunities in cheap telecom equipment. In the end, there's still a big question as to whether or not Level 3 is going to grow by acquiring bankrupt telecom companies... or become a bankrupt telecom company themselves.