Level 3 buys back transatlantic fibers from Viatel
Level 3 Communications yesterday completed its acquisition of Viatel’s two-fiber transatlantic network after receiving approval from a bankruptcy judge. Viatel originally bought the fiber from Level 3 in April 2000.
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Under the terms of the agreement, Level 3 keeps all cash payments it has already received from Viatel in return for releasing the company from $9 million worth of debt. Viatel has also transferred 20 gigabits of capacity on a separate transatlantic cable to Level 3.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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