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April 24, 2010

CenturyTel, seeking scale, to buy Qwest for $10.6B (AP)

by Milsuite FX @ April 24, 2010 (Category: Default)

FILE - The Qwest Communications tower is shown in downtown Denver on in this Oct. 29, 2008 file photo. CenturyTel Inc. said Thursday April 22, 2010 that it will buy Qwest Communications International Inc. in a stock swap worth $10.6 billion, creating a telecommunications giant serving customers in 37 states. (AP Photo/David Zalubowski, File)AP - CenturyTel Inc., the country's fifth-largest local-phone company, said Thursday that it will buy Qwest Communications International Inc., the third-largest, in a stock swap worth $10.6 billion to gain the benefits of scale in a shrinking business.