Qwest, Global Crossing split telco spoils
After a lengthy fight, Qwest wins a bidding war for local telephone giant US West, undercutting an offer from Bermuda upstart Global Crossing. But the latter claims Frontier Communications.
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After a lengthy fight, Qwest wins a bidding war for local telephone giant US West, undercutting an offer from Global Crossing. The Bermuda upstart didn't walk away empty-handed, however, claiming Frontier Communications. "We believe this transaction positions Qwest to be the benchmark large-capital growth company in the new millennium." - Qwest chief executive Joe Nacchio |
| Telco bidding war reaches friendly end A billion-dollar bidding war concludes with Qwest acquiring US West and Global Crossing winning Frontier.
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