Reuters: Qwest open to deals beneficial to shareholders

Tue, 06/10/2008 - 8:10am
Traci Patterson

Qwest sees more consolidation in store for the telecom industry, and the company is open to deals beneficial to shareholders, CEO Edward Mueller said at a Deutsche Bank media and telecom conference.

"I think time will tell how this works out, but there's probably some consolidation out there yet to be had," Reuters reported Mueller as saying.

Mueller said the company would pursue anything that would be "accretive for shareholders,” according to Reuters.

Also at the conference, Mueller said that Qwest’s business results for the full year would most likely be at the lower end of its forecasts due to a weaker economy, a shift to wireless communications and competition, Reuters reported.

Mueller said that revenue and adjusted EBITDA would likely be at the lower end of Qwest’s previous guidance, but that Qwest’s adjusted free cash flow outlook for 2008 was unchanged.

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