tw telecom's shares jumped 7.2 percent to $29.12 on Wednesday afternoon after being cited by Keith Meister, founder and managing partner of New York-based Corvex, as a prime acquisition target.
Level 3 Communications' first-quarter revenues declined sequentially and year-over-year to $1.58 billion due to the expected termination of various North America and UK government contracts.
Level 3 Communications has yet to announce its own 100G optical offering, but the provider is getting requests from both large enterprise and wholesale customers that now need these connection speeds.
Level 3 Communications has appointed Jeff Storey as its new president and CEO, taking over from company founder James Crowe, who announced he would step down last month.
Level 3 Communications has launched an expansion into the Latin America market by building two new metro networks in Buenos Aires and Bogota.
James Crowe, Level 3 Communications' CEO, on Thursday said he will step down from his post at the end of the year as part of a broader leadership succession at the competitive provider.
Level 3 Communications reported on Tuesday that Q4 revenue rose $1.59 billion year-over-year as it saw gains in both its Core Network Services and Enterprise CNS revenues.
Level 3 Communications and tw telecom on Monday struck a new long-term "settlement-free" peering arrangement that allows the two service providers' networks to exchange data.
Level 3 Communications on Monday introduced a global security solutions suite that it says will provide multi-layered protection as customers grow their businesses.
Level 3 Communications on Tuesday began offering its content delivery network (CDN) services on the Washington Interagency Telecommunications System (WITS 3) contract.