DENVER, Aug. 13 -- Qwest Communications International Inc. (Nasdaq: QWST) and U S WEST Inc.(NYSE: USW) today announced that they filed two key merger documents with federal agencies.
Qwest and U S WEST filed a Notification and Report Form with the U.S. Department of Justice, which is required by the Hart-Scott-Rodino Act for antitrust approval of the merger.
The companies also filed a Registration Statement on Form S-4 with the Securities and Exchange Commission, which contains a proxy statement and prospectus for Qwest and U S WEST shareowners to evaluate the merger. Qwest and U S WEST announced July 18, 1999, that they intend to merge by mid 2000 and create a combined company with pro forma revenue of $18.5 billion in the year 2000, and pro forma EBITDA (earnings before interest, taxes, depreciation and amortization) of $7.4 billion. The company, to be named Qwest Communications International Inc., would employ approximately 64,000 people and be headquartered in Denver.
Qwest Communications International Inc. (Nasdaq: QWST) is a leader in reliable and secure broadband Internet-based data, voice and image communications for businesses and consumers.
About U S WEST
U S WEST (NYSE: USW) provides a full range of telecommunications services -- including wireline, wireless PCS, data networking, directory and information services -- to more than 25 million customers nationally and in 14 western and Midwestern states. More information about U S WEST may be found on the Internet at www.uswest.com.
This release contains 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 and U S WEST 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 complete the network on schedule and on budget, financial risk management and future growth subject to risks, the companies' ability to achieve Year 2000 compliance, adverse changes in the regulatory or legislative environment, and failure to close the merger timely or at all. This release may include analysts' estimates and other information prepared by third parties for which the companies assume no responsibility. The companies undertake 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. The Qwest logo is a registered trademark of Qwest Communications International Inc. in the U.S. and certain other countries. The U S WEST logo is a registration trademark of U S WEST, Inc. in the U.S.
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