Qwest Considering Hostile U S West Offer

Tue., June 29, 1999

From Staff

Qwest Communications International Inc., which is bidding against Global Crossing Ltd. to buy U S West Inc. and Frontier Corp., said it may take its offers directly to the two phone companies’ shareholders.

“As circumstances change, we may consider adopting different strategies to encourage U S West and Frontier, or their shareowners, to accept our offers, and we may set a deadline by which they must do so,” Chief Executive Joseph Nacchio wrote in a letter to Qwest shareholders. He wasn’t more specific.

Nacchio is evaluating options after raising Qwest’s bids to $54.32 billion for local phone provider U S West and long-distance carrier Frontier last Thursday. Both companies already have agreements with Global Crossing and rejected Qwest’s earlier offers.

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Qwest Considering Hostile U S West Offer

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