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CenturyLink jumps on report of merger talk with Level 3 Communications

Centurylink Center
Daniel Acker | Bloomberg | Getty Images

Shares of CenturyLink jumped more than 9 percent Thursday after a report that it is in advanced talks to merge with Level 3 Communications.

The telecommunications companies could announce the deal in the coming weeks, according to the Wall Street Journal, citing people familiar with the matter. The Journal reports that the terms of the deal are currently unknown but said a merger could give the companies additional support in an already tough industry.

Read the full report from the Wall Street Journal here.

CenturyLink's stock is up more than 23 percent year to date.

CTL 5-Day Chart