In a move to make it more competitive with leaders AT&T and MCI WorldCom, Qwest makes a bid for US West and Frontier. Yet Wall Street doesn't look favorably on the proposed deal, as Qwest's stock falls sharply.
"This sets the stage for the fourth or fifth supercarrier that's U.S.-based."
- Boyd Peterson, Yankee Group telecommunications analyst
Qwest bids to become a telecom giant news analysis
With its $55 billion hostile bid for US West and Frontier, Qwest is risking its high-flying Wall Street position to enter the top ranks of the telecom players.
Qwest's bid for US West shakes Wall Street update
Qwest Communications International made a $55 billion hostile bid for US West and Frontier over the weekend, setting up a high-stakes bidding war with undersea cable player Global Crossing.
Court nixes Qwest, Bell long distance deals
A U.S. appeals court upholds a federal regulators' decision barring big local phone companies like US West and Ameritech from marketing other firms' long distance service under their own brand names.
Global Crossing, US West agree to deal
Local phone company US West and undersea fiber-optic firm Global Crossing plan to merge their two businesses, in a complicated two-part deal that would eventually create a new company worth close to $75 billion.
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