CenturyLink (Formerly Qwest)
On April 22, 2010, CenturyLink (CenturyTel, Inc., NYSE: CTL) and Qwest Communications (NYSE: Q) announced that their boards of directors approved a definitive agreement under which CenturyLink acquired Qwest in a tax-free, stock-for-stock transaction.
CenturyLink CEO and President Glen F. Post III said of the acquisition, “We believe the combination of CenturyLink’s and Qwest’s employees, assets and service areas will provide us greater scale, scope and expertise and will provide significant benefits for shareholders, customers and our communities. This combination will enhance our ability to deploy innovative IP products and high-bandwidth services to business customers, expand broadband availability and speed to consumers, and offer superior, differentiated video products.
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