CenturyTel Qwest $10.6 Billion Deal

CenturyTel Qwest $10.6 Billion Deal – This has been one of the biggest telecommunications deal that has happened in 2010, CenturyTel which is a local phone and Internet service provider for quite some time now, announced just on Thursday that they will be acquiring all of Qwest Communications. The deal is expected to be a $10.6 billion dollars stock swap. The new company that is going to be a combination of both businesses will now serve over 37 different states.It is expected to service close to 5 million broadband customers, 17 million wireless customers, and close to 850,000 wireless consumers. These numbers are based off of some details that the companies released in a statement to the press.


Both of the enterprises had very large landline operations and were doing exceptionally well. They both were looking to grow their businesses and be able to keep up with the bigger names in the business. As you probably know, those are AT&T and Verizon Communications. Both of these two companies have landline and cellphone services. In order to offer the kind of capabilities that they do to compete in the economy, they needed to merge together and unify as one. There have been reports to prove that the telecommunications industry was doing very well in the past but now they are having to recall all of the deals that went through in the 1990′s. Craig Moffet is an analyst of the industry said that he saw the two businesses joining together as a way to face the struggles that the landline phone industry is seeing. More and more people are turning off their home phones and moving to cell phones.

Category: US News