Qwest Refutes Report of Flat 2010 Capex Spending

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October 21 2009 @ 14:00

Qwest Communications International Inc. says it can’t yet reveal its 2010 capital expenditure spending, regardless of what a high-profile news service reported this week.

Qwest CTO Pieter Poll apparently stuck foot in mouth on Tuesday when he told Reuters, “The overall capex program for next year is going to be flat compared to this year.”

He also said Qwest plans to invest more money in fiber networks for wireless backhaul, despite the flat capex. “The percentage for fiber will increase,” Poll said, according to Reuters.

Well, Qwest didn’t appreciate what Poll said and, on Wednesday, tried to do damage control.

Joseph Euteneuer, executive vice president and CFO at Qwest, told the Securities and Exchange Commission in a filing that Qwest hasn’t even set its 2010 capex levels. Therefore, the document read, Qwest is “not in a position to compare its anticipated 2009 capital expenditures to capital expenditures that will occur in 2010.”

Euteneuer said Qwest will “disclose its expectations for 2010” once it finishes budgeting for the upcoming year, and reports its full-year 2009 results.

We have a feeling Mr. Poll is not having the best day today.

Tags: Qwest capex spending