By Dana Mattioli and Dana Cimilluca

CenturyLink Inc. is in advanced talks to merge with Level 3 Communications Inc., a deal that would give the telecommunications companies greater heft in a brutally competitive industry.

A deal could be announced in the coming weeks, according to people familiar with the matter. As always, there's a possibility the talks could fall apart.

Terms of the deal could not be learned. As of Thursday afternoon before the Journal's report of the talks, Level 3, based in Broomfield, Colo., had a market value of $16.8 billion. CenturyLink, based in Monroe, La., was worth $15.2 billion.

Write to Dana Mattioli at dana.mattioli@wsj.com and Dana Cimilluca at dana.cimilluca@wsj.com

(END) Dow Jones Newswires

October 27, 2016 13:35 ET (17:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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