CenturyLink To Acquire Qwest For $10.6 Billion

Centurylink

In a bid to create a telecommunications provider serving more than 17 million customers nationwide, CenturyLink and Qwest Communications announced Thursday that their boards have approved a definitive agreement under which CenturyLink would acquire Qwest in a proposed $10.6 billion stock-swap.

If approved, the merger will create a much stronger No. 3 telco in the U.S., behind AT&T (NYSE: T) and Verizon Communications.

The combined CenturyLink-Qwest would have operations in 37 states, and would have had revenue of $19.8 billion last year. As of December 31, 2009, CenturyLink and Qwest together served approximately 5 million broadband customers, 17 million access lines, 1.4 million video subscribers and 850,000 wireless consumers. More on Multichannel.

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