<p>Both companies operate vast networks of optical fibre. Combined, they would reach 70 countries on three continents.<br /><br />Global Crossing shareholders would receive 16 shares of Level 3 common stock in exchange for each share of Global Crossing common or preferred stock. Level 3 will also assume $1.1 billion of Global Crossing’s debt. <br /></p>
<p>Both companies operate vast networks of optical fibre. Combined, they would reach 70 countries on three continents.<br /><br />Global Crossing shareholders would receive 16 shares of Level 3 common stock in exchange for each share of Global Crossing common or preferred stock. Level 3 will also assume $1.1 billion of Global Crossing’s debt. <br /></p>