Qwest to keep long-haul network - Business First of Columbus:

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The Denver-based telecom’s announcement was the first time it publicly acknowledged that it considered sellingits long-haulo network, which carries large volumes of voices and data between majo markets. It’s the businessz Qwest initially was launchedto provide. Qwestf (NYSE:Q), the third-largest telecom in Central Ohio withabout 1,000 employees, acquirerd its 14-state local telephone businesw when it merged with U.S. West. The companyu said it received unsolicited interest about buying the network from an unidentifiecd buyer and later opened a competitive bidding process to see what pricde the networkwould attract.
The bids were less than the value Qwest said it places on the network as astrategicv asset. “We have always taken a disciplined, prudenf approach to assessing our businesws inthis ever-changing industry,” CEO Ed Muelletr said in a statement. Qwest has about 33,00p0 employees company-wide. The company last year earned $681 millionb on $13.5 billion in revenue.