sells 66 million shares of Qwest
By Jeff Smith
Rocky Mountain News
Wednesday, October 11, 2006
A Qwest stockholder, probably
founder Philip Anschutz, sold 66 million shares of the stock worth
$540 million, an analyst reported today. JP Morgan analyst Johathan
Chaplin reported the sale of the large block of stock in a research
note to clients.
Anschutz spokesman Jim Monaghan couldn't immediately be reached for
comment, while Qwest spokeswoman Diane Reberger said the Denver
telco doesn't comment on market activities.
Besides Anschutz, there's only a few institutions that own more than
66 million shares of Qwest stock.
Anschutz owned about 300 million shares of Qwest, or 16 percent of
the company, before a series of sales earlier this year.
The biggest one was in July, when he received $294.8 million as part
of three contracts to sell as many as 45 million Qwest shares in the
Anschutz quit the Qwest board this spring, saying he wanted to focus
on his private investments, which include the production of
Qwest shares fell 18 cents to $8.19 in brisk trading Wednesday
morning. The stock has soared nearly 50 percent this year.