Level 3 to sell off more Commonwealth shares
Commonwealth Telephone Enterprises today said it has filed a shelf registration statement with the Securities and Exchange Commission stating that an indirect subsidiary of Level 3 Communications may sell up to 4,741,326 shares of common stock of CTE. The shelf registration statement does not relate to any shares of class B common stock held by the indirect subsidiary of Level 3. As of the end of the second quarter, Level 3 held about 25% of the outstanding common shares of CTE. Previously, Level 3 has stated that it would consider selling off non-core assets including interest in other public companies.
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