Debt-saddled Qwest Communications International Inc. (Q) plans to shed that label somewhat.
The Denver-based RBOC said on Thursday it is working to cut its debt by 25 percent, or $3.5 billion, over the next 12 months. The company ended 2009 with $11.8 billion in net debt.
Qwest has come under scrutiny many times for that high debt load, especially as it sheds landline users in a weak, wireless-friendly economy.
Among the measures Qwest hopes will ease its financial obligations: not renewing the lease on its 52-story Denver headquarters building.
Executives made the debt-reduction announcement in an analyst meeting.
Shares of Qwest were trading higher about 40 minutes before Wall Street’s close on Friday – they were up 2.36 percent at $4.55.
.@AireSpring hires former @CenturyLink @MegaPath execs as regional #channelmanagers. #cloud #SDWAN goo.gl/fb/1nEQSQ
February 21 2019 @ 17:45:02 UTC
.@BCNTelecom1 expands its agreement with a long-time partner. goo.gl/fb/S25Sjj
February 21 2019 @ 02:23:04 UTC
RT @Channel_Expo: We're proud to announce AT&T as our Official Security Sponsor! Meet with them at #CPEXPO at booth 531 >> https://t.co/uT…
February 20 2019 @ 21:19:29 UTC
.@MomentumTelecom acquiring Metro Optical to expand portfolio. #UCaaS #SDWAN goo.gl/fb/16EkGM
February 20 2019 @ 21:10:12 UTC
What led to @MNJTechnologies winning over a customer from a major carrier? It wasn't just cost. goo.gl/fb/Zt3swJ
February 19 2019 @ 23:50:48 UTC
.@PaloAltoNtwks acquiring @demistoinc in $560 million deal. #cybersecurity goo.gl/fb/JNAueT
February 19 2019 @ 23:36:20 UTC
.@Windstream facing tough financial decisions after court defeat. #bankruptcy goo.gl/fb/yGDkpZ
February 19 2019 @ 21:25:30 UTC
.@jenneinc rolls out new #cloud commissions dashboard for cloud partners. goo.gl/fb/jmF5kh
February 19 2019 @ 20:32:09 UTC
Loading ...