Denver, March 2, 2001 ? Qwest Communications International Inc. today announced that Chairman and CEO Joseph P. Nacchio ended his daily stock sales program announced February 16, 2001.
?I will not continue to sell shares daily at these prices given the current uncertainty in the markets,? Nacchio said. ?Because my reasons for entering into the daily sales program in the first place have not changed, I would expect to return to my prior practice of making sales in quarterly trading windows or, in appropriate circumstances, consider entering into a new daily sales program if I believe the stock price is more realistic.?
Under the terminated daily stock sales program, Nacchio had planned to sell 11,500 shares of stock on each trading day until June 30, 2003.
Qwest stock has traded between a range of $48.18 and $33.88 during 2001, closing at $34.86 on March 1.
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 104,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com.
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