Merger With CenturyLink
On April 22, 2010, CenturyLink announced it would acquire Qwest in a stock-for-stock transaction. CenturyLink shareholders will hold a 50.5% share of ownership in the combined company, while Qwest shareholders would own the remaining 49.5%. The valuation of CenturyLink's purchase as of April 21, 2010 is $22.4 billion, including the assumption of $11.8 billion of outstanding debt held by Qwest as of December 31, 2009. Qwest has started to do business as CenturyLink from August 8, 2011.
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