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Qwest-CenturyLink merger receives final approval


By Andy Vuong
The Denver Post

March 25, 2011


Oregon regulators on Thursday approved CenturyLink's pending acquisition of Denver-based Qwest, the final approval needed to complete the telecommunications merger, the companies said.

As part of the approval from the Public Utility Commission of Oregon, the companies committed to investing at least $45 million in broadband infrastructure in the state over five years.

"With the PUC's approval, CenturyLink and Qwest are another step closer to completing the merger and leveraging their combined strength to develop and deploy innovative communications services for Oregon customers," said John Jones, vice president of State Government Affairs at CenturyLink.

CenturyLink plans to take over Qwest's operations on April 1. The combined company, to be called CenturyLink and serve more than 15 million phone customers in 37 states, will be based at CenturyLink's headquarters in Monroe, La.

Under terms of the deal, Qwest shareholders will receive 0.1664 CenturyTel shares for each Qwest share. The deal is valued at more than $20 billion when factoring in the assumption of nearly $12 billion in debt.

At the end of 2010, CenturyLink served 2.4 million broadband customers and 6.5 million access lines. Qwest has about 2.9 million broadband customers and 8.9 million access lines.

Andy Vuong: 303-954-1209, or