Qwest Extends Long-Haul Bidding Process Reports

The Wall Street Journal is reporting that Qwest Communications International Inc. (Q) is getting bids on its long-haul network, but the numbers are coming in far below the hoped-for $2 billion to $3 billion.

Bids were due Monday, but Qwest, which still isn’t commenting on the sale, apparently has extended the process. The Journal quoted people familiar with the matter when it wrote Thursday that preliminary bids probably will come in under the $1 billion mark.

XO Communications (XOHO.OB) and tw telecom inc. (TWTC) are among the most likely buyers, according to the Journal’s sources.

Qwest’s shares closed down 4.8 percent at $4.19. Its price was down to $4.14 in after-hours trading.

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