Analysts are sceptical as to whether the deal could proceed as Williams has recently agreed a debt for equity swap that would enable the company to come out of bankruptcy protection.
Earlier this month, Level 3 raised around $500 million in bonds from a group of corporate investors that included Berkshire Hathaway, the group chaired by Warren Buffet. It is believed that this investment gave Level 3 a total of $1.5 billion with which to acquire a number of companies in order to build its global operations.
