Via News Release
“The Minnesota Public Utilities Commission (PUC) today approved the acquisition of Qwest (NYSE: Q) by CenturyLink (NYSE: CTL). The Commission had taken up the matter at its February 10, 2011 meeting but had postponed any further action at that time. The Commission delayed a decision then in order to give Qwest and its competitors more time to work out their differences and to allow the Department of Commerce to provide additional input to the Commission.
At its meeting today, the Commission was presented a series of six agreements that covered almost all of the involved parties. With these agreements in place, most of the outstanding issues were resolved. Today’s actions represent a broad agreement that the merger is in the public interest and should proceed.”
The transaction has yet to receive the approval of state regulators in Oregon, Washington and from the Federal Communications Commission in anticipation of closing on April 1, 2011.