Southeastern Asset Boosts Stake in Level 3 Comm (LVLT) To 28.3%
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In an amended 13G filing on Level 3 Communications Inc. (Nasdaq: LVLT), Southeastern Asset Management disclosed a 28.3% stake (434,435,265 shares) in the company. This is up from the 24.45% stake the firm showed at the quarter ended 9/30/07.
Southeastern Asset Management seeks to achieve superior long-term performance by acquiring equity securities of financially strong, well-managed companies run by capable managements at market prices significantly below our assessment of their business value.
Level 3 Communications operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries.
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