Shareholders of long-haul data carriers Level 3 Communications Inc. and Global Crossing Ltd. have separately approved Level 3's $2.9 billion purchase of Global Crossing, the companies said Thursday.
The deal was announced in April and is awaiting antitrust approval. The companies hope to close the deal before the end of the year.
Level 3 is based in Broomfield, Colo. Global Crossing is based in Bermuda, but its largest shareholder is Singapore Technologies Telemedia, which has approved the deal. ST Telemedia is in turn owned by the investment arm of the Singapore government. Full story
