Level 3 to Pay $1.08 Billion for TelCove

Level 3 to Pay $1.08 Billion for TelCove
BROOMFIELD, Colo. (AP) - In another sign of consolidation in the telecommunications industry, network operator Level 3 Communications Inc. agreed Monday to acquire privately held TelCove Inc. for about $1.08 billion in cash and stock. The deal is the fourth acquisition in nine months for Broomfield, Colo.-based Level 3, which saw its shares jump nearly 6 percent in Monday trading. Level 3 will