CenturyLink (NYSE: CTL) and soon to be subsidiary Qwest Communications (NYSE: Q) have received approval from the Arizona Corporate Commission (ACC) and the Residential Utility Consumer Office (RUCO) for their merger.
Although the ACC staff and the RUCO found that the merger should be approved by the ACC, it still has to be reviewed and approved by ACC's commission members.
Gaining the ACC and the RUCO's support came with a number of conditions for both service providers. Similar to other states, CenturyLink and Qwest resolved a number of retail and wholesale issues and agreed to provide regular progress reports on the integration process.
The new company also agreed to invest at least $70 million in Arizona's competitive broadband network infrastructure over the next five years.
Although CenturyLink and Qwest have received approvals from 12 states and the District of Columbia, they still companies need receive approvals from nine additional states, including Arizona, and the FCC.
- see the release
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