Investing in Tulsa based WilTel

Thursday, May 15th 2003, 12:00 am
By: News On 6

There's an offer on the table for the Leucadia National investment group to buy 53% of WilTel Communications.

Leucadia already owns the other 47%. WilTel was spun off by Williams Companies in 2001 and emerged from bankruptcy in October after restructuring its debts.

Meanwhile, Billionaire investor Warren Buffett is buying stock in an Oklahoma telecommunications company.

A filing Thursday with the Securities and Exchange Commission shows Buffet's Berkshire Hathaway is buying $20-million of stock in WilTel Communications Group of Tulsa, Oklahoma.

WilTel has built a 33,000-mile fiber-optic network that has connected 125 cities on five continents.