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Byline: Reinhardt Krause
More Telecoms Swapping
Debt For Equity
Swapping debt for equity is becoming trendy for phone companies.
It's one way for money-losing firms to stay afloat.
In debt-for-equity swaps, companies issue new stock to bondholders who, in turn, retire debt.
Long-distance network builder Level 3 Communications Inc. is considering the move. So is local phone startup XO Communications Inc.