Erhält 55Mio$ in Cash - aber Vorsicht!!!!!
Gefahr des Totalverlusts bei diesem Wert!
Friday December 7, 7:00 am Eastern Time
Press Release
SOURCE: McLeodUSA Incorporated
McLeodUSA Announces Sale of Wholesale ISP Assets
to Level 3
CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Dec. 7, 2001--McLeodUSA Incorporated (Nasdaq: MCLD - news) today
announced an agreement to sell certain of its internet/data assets and wholesale dial-up Internet Service Provider customer base
(formerly part of Splitrock Services) to Level 3 Communications, Inc.
Under terms of the agreement, Level 3 will purchase approximately 350 POPs (points of presence) across the U.S., the related
facilities, equipment and underlying circuits, plus the wholesale ISP customer base. McLeodUSA will retain its Level 3 fiber
IRU. The parties will also enter into operating agreements enabling McLeodUSA to continue providing service and support to
its in-region customers.
McLeodUSA will receive $55 million in cash consideration. Level 3 will also assume certain operating
liabilities associated with the assets.
``We continue to focus on our 25-state footprint, selling non-core assets to raise cash, and achieving profitable growth,'' said
Steve Gray, President and CEO of McLeodUSA Incorporated. ``This asset sale, along with the operating agreements with
Level 3, is consistent with the plan we announced on October 3, 2001.''
The transaction is subject to Hart-Scott-Rodino approval and customary closing conditions, and is expected to close during the
first part of 2002.
About McLeodUSA:
McLeodUSA provides integrated communications services, including local services, in 25 Midwest, Southwest, Northwest and
Rocky Mountain states. The Company is a facilities-based telecommunications provider with, as of September 30, 2001, 393
ATM switches, 58 voice switches, 437 collocations, 520 DSLAMs, over 31,000 route miles of fiber optic network and
10,700 employees. In the next 12 months, McLeodUSA plans to distribute 34 million telephone directories in 26 states,
serving a population of 58 million. McLeodUSA is traded on The Nasdaq Stock Market® under the symbol MCLD. Visit the
Company's web site at
www.mcleodusa.com. Gruß Dr. Broemme