Nov, 2003 : Qwest Bids $350 Million on Allegiance Telecom

📅 November 21, 2003 - Telecommunications carrier Qwest (qwest.com -> lumen.com) is offering $350 million in cash and assumed debt for Dallas-based Allegiance Telecom (algx.com), a provider of facilities-based telecommunications, according to a report published on internetnews.com.

internetnews.com reported that talks were in the early stages and that neither company had made any comment.
The potential acquisition could bring Qwest new corporate customers for Internet access, colocation and Web hosting and help it compete with larger carriers such as AT&T and MCI.
Allegiance Telecom, who is saddled with over $1 billion in debt, filed for chapter 11 bankruptcy protection in May and must have creditors and the courts approve any transaction.
According to Internetnews.com, there are two other potential suitors who have shown interest in the troubled carrier.

Reads: 1534 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/qwe112103.cfm

Company: qwest [qwest.com -> lumen.com]

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