DENVER, June 26, 2000 - Qwest Communications International Inc. (NYSE: Q), the broadband Internet communications company, and U S WEST, Inc. (NYSE: USW), a leading provider of next-generation broadband and communications services, last Friday received unanimous approval for their merger from the Arizona Corporation Commission (ACC). The approval marks the completion of all required regulatory approvals in the 14-state region.
The Commission approved with some modifications the order recommended by the Arizona hearing officer. The commission's written order approving the merger is expected to be issued this week. The order will include provisions to ensure continued investment in the state's telecommunications network and continued service improvement by the merged company.
"We appreciate the action taken by the Arizona Corporation Commission's to approve the merger with U S WEST and we look forward to reviewing the final written order this week," said Steve Davis, senior vice president of government affairs for Qwest.
All state regulatory approvals for the merger have now been received. The merger has also received all required clearances from federal agencies, pending final approval of long-distance divestiture. It is expected to close by mid-summer.
Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 25,500 miles in North America. In addition, KPNQwest (Nasdaq: KQIP), Qwest's European joint venture with KPN, the Dutch telecommunications company, is building and will operate a high-capacity European fiber optic, Internet-based network that will span 12,400 miles when it is completed in 2001. For more information, please visit the Qwest web site at www.qwest.com.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to maintain rights of way, financial risk management and future growth subject to risks, adverse changes in the regulatory or legislative environment. This release may include analysts' estimates and other information prepared by third parties, for which Qwest assumes no responsibility. Qwest undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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|Utah Media Contact
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