Rumors of Level 3 deal boost Broomfield telecom’s stock

Shares of Broomfield-based telecommunications firm Level 3 Communications Inc. (NYSE: LVLT) spiked 3.5 percent Wednesday amid rumors that the company could be seeking a buyer or some other strategic option.

Financial news website Benzinga cited industry sources in reporting Level 3’s exploration of such deals, which could also include a large stock buyback. Multiple outlets mentioned Comcast and Google as potential suitors, but also that a merger with a competitor like Boulder-based Zayo Group could also be a possibility.

Among other services, Level 3 is a major provider of long-haul fiber optic cable around the world. Officials for the company declined to comment on the deal speculation to the Denver Business Journal.

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