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CenturyLink, Qwest Secure Final Regulatory Approval to Merge

The Public Utilities Commission of Oregon on Thursday approved the pending merger between CenturyLink Inc. and Qwest Communications.

That means the telecommunications providers have secured the final regulatory approval needed to complete the merger that Dow Jones has reported is currently valued at $22 billion.  

Monroe, La.-based CenturyLink expects to close its acquisition of Denver-based Qwest on April 1.  

Last week the Federal Communications Commission approved the merger and imposed certain enforceable conditions that the companies agreed to.

One of those conditions includes the introduction of a broadband program focused on connecting millions of low-income consumers in the combined company’s 37-state territory.   

Based on the companies financials as of December 31, 2010, the combined company will serve 5.3 million broadband customers, 15.4 million access lines, 1.628 million video subscribers and 1 million wireless customers.

As previously disclosed, the combined company will operate under the name CenturyLink and its stock will continue to trade on the New York Stock Exchange under the current symbol, CTL.


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