Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: FiloF who wrote (4774)	8/2/1999 7:46:00 PM
From: KAF	Respond to of 6846

Qwest <QWST.O> awarded $36 mln contract with PNG DENVER, Aug 2 (Reuters) - Qwest Communications International Inc. <QWST.O>, the long-distance telephone company set to buy U S West Inc. <USW.N>, said Monday it was awarded a $36 million, multi-year contract with PNG Telecommunications. Qwest will provide PNG, now doing business as PowerNet Global Communications, with a suite of communications solutions including frame relay, high-speed private line and domestic and international long distance services. The Cincinnati-based, closely-held PNG provides nationwide services to businesses and consumers through a network of independent representatives. "By working with Qwest, we can expand our reach to become even more competitive in the marketplace," said Bernie Stevens, chief executive officer at PNG. "With access to Qwest's full array of communications solutions our growing agent base will be able to provide customers top quality services at very competitive prices," Stevens said. PNG offers domestic and international long distance services, Internet access, and integrated voice and data services for business and residential customers. Qwest recently beat Wall Street estimates for its second quarter by posting stronger-than-expected profits and a 26 percent increase in revenues due to strength in its data and Internet operations. Pro forma revenues increased to $873.7 million from $695.3 million in the year-ago period. U S West agreed on July 18 to end its previous merger agreement with Global Crossing Ltd. <GBLX.O> and accepted Qwest's $36 billion offer. Shares of Qwest were trading at 29.625 on the Nasdaq in mid-afternoon on Monday. REUTERS Rtr 14:34 08-02-99