A Qwest spokeswoman would not discuss the ongoing merger negotiations, saying the company has "no new information." A US West spokesman would neither "confirm nor deny" a report from financial news network CNBC on the deal.
Qwest, a growing telecommunications carrier, has been engaged in a takeover battle with underseas fiber-optic company Global Crossing for nearly a month. The two companies are fighting for the right to acquire both US West, a local phone company, and Frontier, a long distance voice and Web hosting firm.
US West had already agreed to be acquired by Global Crossing in May.
The corporate marriage would be considered a merger of equal companies rather than a takeover, CNBC said. Executives at US West, a $30 billion company, earlier were concerned on whether the deal would be classified as a merger or a takeover.
Nacchio will continue to lead the combined company, to be called Qwest, according to reports.
Bloomberg contributed to this report.