Qwest to post $1.8bn a year in charges if bid attempts succeed

Click to follow
The Independent Online
QWEST COMMUNICATIONS, the fast-growing Denver-based telecoms group, yesterday said it would post $1.8bn a year in charges for 30 years to write down goodwill if it is successful in its attempt to acquire the American baby bell US West and the long-distance provider Frontier Corp.

Qwest, the fourth largest long-distance company in the United States, made two unsolicited bids on Sunday for local company US West and Frontier for a total of $55bn (pounds 34bn), in an attempt to woo them away from its rival Global Crossing.

But analysts warned the purchase of US West could face regulatory obstacles.