US West, Qwest to Merge
DENVER, July 19 -- Qwest Communications International and US West have agreed to merge in a deal valued at $48 billion. The new company will be called Qwest and will retain its Denver headquarters. Joseph Nacchio, president and CEO of Qwest, will assume the same titles at the combined company. The two companies plan to close the deal within the next 12 months after securing approval from shareholders and government regulators.
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