Level 3 shares were trading around $46.50 at the time of the report. Minutes after the report hit newswires, Level 3 saw a big spike upwards of nearly 11 percent.
Back on July 13,
Level 3 was considering a range of options, from an outright sale of the company to a large buyback.
The stock closed Thursday's session up 10.5 percent at $51.87.
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