Qwest bids $390 million for Allegiance.

From: Chicago Tribune (Chicago, IL) | Date: December 18, 2003 | Copyright information

Byline: Jon Van

In what could be the long-awaited start of consolidation in the telecom industry, Qwest Communications Inc. said Thursday it would buy bankrupt Allegiance Telecom Inc., an upstart local carrier.

If the deal closes, it would pit Denver-based Qwest against sibling Baby Bells like SBC Communications Inc. and Verizon Communications Inc. in competition for local and mid-sized business customers.

Allegiance provides local telephone small and medium-sized businesses in the 36 metropolitan markets including Chicago, giving Qwest a broader geographical reach ...

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