Mexico turns down Qwest settlement offer
Rocky Mountain News
Thursday, February 9, 2006
New Mexico regulators have
rejected Qwest Communications' $85 million settlement offer
in an investment dispute, saying the Denver-based
telecommunications giant didn't follow proper procedures.
Qwest and the New Mexico Public Regulation Commission have
gone to court over a 2001 commission order that Qwest must
invest $788 million in New Mexico's aging telecommunications
system by next month. The company expects to be about $200
million short by the deadline.
After commissioners last April ordered Qwest to comply with
the investment, Qwest asked the state Supreme Court to
decide whether the company had to spend the money. The
court is expected to hear arguments in the case Tuesday.