Qwest Gets Final OK for Purchase of US West

Qwest Communications International Inc. won final U.S. approval to purchase local phone company US West Inc. after federal regulators approved Montana Power Co.’s $200-million purchase of Qwest’s long-distance assets. The Federal Communications Commission in March approved Qwest’s $57-billion purchase, pending the sale of long-distance assets in US West’s 14-state region. Monday’s decision clears the way for Qwest to close the transaction in July. Qwest will gain US West’s more than 25 million customers and its regional phone networks, which can lower the costs for carrying some long-distance calls. Qwest, the No. 4 U.S. long-distance company, provides high-speed data and Internet services, primarily to business customers. Qwest rose $1.88 to close at $54.25 and US West gained $1.91 to close at $91, both on the New York Stock Exchange.