Williams Communications accepts New York firm's offer

Saturday, July 27th 2002, 12:00 am
By: News On 6

(Tulsa, Oklahoma-AP) -- An Oklahoma-based telecommunications company that had been sought by Colorado-based Level Three Communications has accepted an investment offer by a New York firm.

Williams Communications Group's deal with Leucadia National Corporation includes a 150 (M) million-dollar investment in Williams, which filed for Chapter 11 bankruptcy protection this year. In all, Leucadia would buy 45 percent of Williams for 330 (M) million dollars.

Williams officials and the Wall Street Journal said this week that Broomfield-based Level Three made a one-point-one (B) billion-dollar bid for Williams.