Qwest Gets Offers For Phone-Book Unit
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Qwest Communications International Inc., working to avert a year-end loan default, got offers for its phone-book unit from groups led by Welsh, Carson, Anderson & Stowe and Thomas H. Lee Partners.
The biggest local-phone company in 14 Western U.S. states said talks for all or part of its yellow-pages business will conclude in the “near future.” Qwest spokesman Steve Hammack declined to elaborate on the number or names of potential buyers.
Chief Executive Richard Notebaert, who replaced Joseph Nacchio last month, is seeking to sell assets to lower $26.4 billion in debt.
Shares rose 7 cents to $2 on the NYSE.
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