Regulators Approve Global Crossing-Level 3 Merger

By Josh Long

U.S. regulators have approved the merger between Level 3 Communications and Global Crossing, the companies announced Thursday.

Level 3 and Global Crossing said the U.S. Department of Justice and Federal Communications Commission have approved the deal.

Broomfield, Colo.-based Level 3 expects to close on the acquisition as early as next week.

The $3 billion merger will create a global communications company with ownership over networks in more than 50 countries and connections to more than 70 nations, and Level 3 has said the acquisition would allow it to better serve enterprises, content providers, carriers and governments throughout North America, Latin America and Europe.