Qwest’s attempt to sell its long-distance business has attracted bids less than the $2 billion to $3 billion the company had hoped for.
Verizon and AT&T are believed to be uninterested in acquiring Qwest’s long-distance business.
Speculation has turned to Level 3 Communications, and possibly XO Communications or TW Telecom, according to The Wall Street Journal (story here ; subscription required).
Qwest has yet to confirm that it is even conducting the sale; all information is coming largely from the WSJ.
It is well known, however, that Qwest is still struggling to repay billions in debt incurred a decade ago.