Qwest-CenturyLink deal gets antitrust OK
By Greg Avery
July 16, 2010
Federal anti-trust regulators have approved the acquisition of Qwest by CenturyLink, the Federal Trade Commission announced Friday, meaning regulators donít consider the $10.6 billion deal anti-competitive.
The clearance is just one of many layers of approval the deal merging Denver-based Qwest Communications International Inc. (NYSE: Q) and Monroe, La.-based CenturyLink (NASDAQ: CTL) needs.
CenturyLink ó formerly known as CenturyTel ó announced plans April 22 to buy Qwest in a $10.6 billion stock swap. It will also assume about $12 billion in Qwest debt, giving the deal an overall value of $22 billion.
The merger is expected to close in the first half of 2011, subject to shareholder and regulatory approval.
If completed, the merger will create a telecom serving 37 states
with about 5 million broadband customers and 17 million phone
The new company would be based in
Earlier this week, Qwest set Aug. 24 as the date for its special
meeting of shareholders to vote on the CenturyLink deal. The
shareholder meeting will be held at the
Compiled by the DBJ's Greg Avery