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Technology Stocks : Qwest Communications (Q) (formerly QWST)

Q 77.98

+6.1%

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To: Scotsman who wrote (4431)	6/27/1999 2:51:00 PM
From: Neil H	Read Replies (1) of 6846

Related Quotes QWST 33 7/8 +13/16 delayed 20 mins - disclaimer Sunday June 27, 12:54 pm Eastern Time Company Press Release SOURCE: Qwest Communications International, Inc. Qwest Communications Bid for US West Will Not Encounter Tough FCC Regulatory Hurdles -- Former FCC Chairman Declares Qwest Plan to Surrender Long-Distance Revenues in US West Region is 'Clear, Simple and Effective' -- DENVER, June 27 /PRNewswire/ -- Qwest Communications International Inc. (Nasdaq: QWST - news) said today that it does not expect to encounter any difficulty in obtaining the necessary FCC regulatory approvals to complete its proposed mergers with U S WEST, Inc. and Frontier Corporation. James H. Quello, former FCC Commissioner for 23 years and former interim FCC Chairman, concluded in a letter addressed to Joseph P. Nacchio, Qwest Chairman and CEO, that the company's plans to divest its inter-LATA revenues and operations in the 14-state U S WEST region is ''a clear, simple and effective way of complying with the requirements of section 271'' of the Telecommunications Act of 1996. Qwest said that the long distance revenues that might be divested constitute less than one percent of the combined company's operations. Qwest also said that it would restart its long-distance business after the combined company achieved Section 271 compliance. Nacchio summarized Qwest's position on the regulatory aspects of the combination in a letter to Solomon D. Trujillo, Chairman, President and CEO of U S WEST. The full text of Nacchio's letter to Trujillo, and of Quello's letter to Nacchio are attached to this release. Neil

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