Qwest Communications agreed Thursday to be acquired by CenturyTel Inc. in a $10.6 billion all-stock deal.
Including the assumption of $11.8 billion in Qwest debt, the deal reflects an enterprise value of $22.4 billion, according to a statement from CenturyTel announcing the deal. It’s the largest telecom deal since mid-2008, when Verizon Wireless purchased Alltel for $28.1 billion.
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