By editorial@silicon.com, 19 July 1999 15:49
NEWS Telcos, Qwest and Global Crossing have called a truce in their battle to take over smaller US-based carriers, Frontier and US West. The compromise deal will see Qwest take control of US West in a $36bn merger deal, with Global Crossing paying $11bn for Frontier. The announcement defuses a potential bidding war for the telcos, after Qwest's attempt last month to break up deals which Frontier and US West had already agreed with Global Crossing. Qwest will pay Global Crossing $420m to compensate for the break-up of its deal with regional Bell company, US West.
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