Qwest looking to unload long-distance business?

Struggling telecommunications carrier is searching for ways to lower its outstanding debt load, according to a report in The Wall Street Journal.

Qwest Communications International is reportedly seeking a buyer for its long-distance carrier business, as the company searches for ways to lower its outstanding debt load, according to a report Thursday in The Wall Street Journal.

Qwest, a struggling telecommunications carrier that ranks third in the nation, is reportedly hoping to raise $2 billion to $3 billion through the sale of its long-distance carrier business, according to the story which cited sources familiar with the matter.

That would pare down the footprint of the Denver-based telecommunications company, leaving it as a regional telecommunications player.

But such a sale could help offset its debt load, which at the end of the year stood at $13.7 billion.

Telecommunications giants AT&T, as well as Verizon, and smaller players such as TW Telecom may be interested in snapping up the business from Qwest.

A spokeswoman for Qwest declined to comment on whether the company's long-distance carrier business is up for sale. She also noted the company does not break out the financial performance of its long-distance carrier business.

Qwest is scheduled to release its first-quarter financial results on April 29.

 

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