Enabled by relationships with emerging technology companies and established market leaders, Qwest's Internet Protocol network will provide customers with unprecedented high-speed capacity at a lower cost. The Qwest and U S WEST merger is on schedule to close mid-year. People from both companies are working on 30 teams and are ahead of schedule implementing processes to realize the synergies outlined when the merger was announced. Shareowners of both companies overwhelmingly approved the merger Nov. 2. The Colorado utility commission approved the merger in early January.
Hearings are underway or scheduled to begin soon in many other states.
KPNQwest is building an 11,800-mile network in 46 cities throughout Europe. The Qwest Macro Capacity Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 24,500 miles in North America. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, dependence on new product development, rapid technological and market change, failure to maintain rights of way, financial risk management and future growth subject to risks, Qwest's ability to achieve Year 2000 compliance, adverse changes in the regulatory or legislative environment, and failure to complete the merger with U S WEST and achieve projected synergies and financial results timely or at all. This release may include analysts' estimates and other information prepared by third parties, for which Qwest assumes no responsibility.