DENVER - Qwest Communications International Inc. (Nasdaq: QWST) and
(NYSE: USW) announced today they have received clearance from the U.S. Department of Justice (DoJ) for their proposed merger, passing another milestone for the combination of the two companies.
The DoJ reviewed and cleared the two companies' pre-merger antitrust filing, granting early termination of the waiting period in accordance with the Hart-Scott-Rodino Pre-Merger Notification Act, which requires that federal antitrust agencies review mergers of a certain size.
The DoJ's clearance allows the two companies to move forward with regulatory approval by the Federal Communications Commission and several states. Thus far, the companies have filed with the FCC and regulatory commissions in seven states: Arizona, Colorado, Minnesota, Montana, Utah, Washington and Wyoming.
"This is the second significant federal decision we've received in the last month," said Solomon D. Trujillo, Chairman, President and CEO,
"Once again another federal agency has rendered an early decision that allows us to proceed quickly with the merger approval process," said Joseph P. Nacchio, Chairman and CEO, Qwest. "The early termination of the waiting period further supports our contention that a Qwest-
The combination of Qwest and
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. Headquartered in Denver, Qwest has more than 9,000 employees working in North America, Europe and Mexico. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking, spans more than 18,500 miles in the United States, with an additional 315-mile network to be completed by the end of the year. In addition, Qwest and KPN, the Dutch telecommunications company, have formed a venture to build and operate a high-capacity European fiber optic, Internet Protocol-based network that has 2,100 miles and will span 8,100 miles when it is completed in 2001. Qwest also has completed a 1,400-mile network in Mexico.
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
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