BROOMFIELD, Colo.—Level 3 Communications Inc. expects to complete its acquisition of Global Crossing Ltd. early next week in a deal that will expand the capacity of a long-distance telecommunications network that transmits data throughout the world.
The Justice Department and the Federal Communications Commission approved the combination Thursday, clearing the way for Level 3 to complete the stock swap that was valued at $2 billion when the deal was announced in April.
The shareholders of the two companies had given their approval last month.
With the acquisition, Level 3’s network will reach more than 70 countries on three continents. The combined company will be based at Level 3’s Broomfield, Colo., headquarters.
Level 3 shares dipped 3 cents to $1.49 in Friday’s late afternoon trading.
