-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Hr7FDVNjcO5COSja3orJCkQ0iuaR7GSVBaSz1X+k6pFeiAevLPtWX2JIhnEFKyiH 7tAC4wxZOpAB/jA8LMVyHQ== /in/edgar/work/20000703/0000912057-00-030783/0000912057-00-030783.txt : 20000920 0000912057-00-030783.hdr.sgml : 20000920 ACCESSION NUMBER: 0000912057-00-030783 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QWEST COMMUNICATIONS INTERNATIONAL INC CENTRAL INDEX KEY: 0001037949 STANDARD INDUSTRIAL CLASSIFICATION: [4813 ] IRS NUMBER: 841339282 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-15577 FILM NUMBER: 667310 BUSINESS ADDRESS: STREET 1: 700 QWEST TOWER STREET 2: 555 SEVENTEENTH STREET CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3032911400 MAIL ADDRESS: STREET 1: 700 QWEST TOWER STREET 2: 555 SEVENTEENTH STREET CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: QUEST COMMUNICATIONS INTERNATIONAL INC DATE OF NAME CHANGE: 19970416 8-K 1 a8-k.txt 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): June 30, 2000 QWEST COMMUNICATIONS INTERNATIONAL INC. --------------------------------------------------- Exact name of registrant as specified in its charter DELAWARE --------------------------------------------------- (State of other jurisdiction of incorporation) 00-22609 84-1339282 --------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 1801 California Street Denver, Colorado 80202 --------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: 303-992-1400 ------------ ITEM 5. OTHER EVENTS On June 30, 2000, the Registrant consummated the merger of U S WEST, Inc., a Delaware corporation ("U S WEST"), with and into the Registrant. Each share of common stock of U S WEST was converted into the right to receive 1.72932 shares of the Registrant's common stock and cash in lieu of fractional shares of the Registrant. The Registrant issued approximately 942,928,542 shares of the Registrant's common stock to U S WEST shareholders in the merger (including shares issuable upon the exercise of outstanding options). On June 30, the Registrant also completed its previously announced sale to Touch America, Inc. of certain of its interLATA businesses in its 14-state local service area, as required by Section 271 of the Communications Act of 1996, as amended. On June 30, 2000, the Registrant issued a press release announcing the completion of the merger. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein. ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (a) Financial Statements of Business Acquired Not applicable. (b) Pro Forma Financial Information Not applicable. (c) Exhibits 99.1 Press Release of the Registrant dated June 30, 2000 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. QWEST COMMUNICTIONS INTERNATIONAL INC. DATE: June 30, 2000 By: /s/ Drake S. Tempest ------------------------------ Drake S. Tempest Executive Vice President, General Counsel and Chief Administrative Officer 3 EXHIBIT INDEX 99.1 Press release of the Registrant dated June 30, 2000 4 EX-99.1 2 ex-99_1.txt EXHIBIT 99.1 [QWEST LOGO] FOR IMMEDIATE RELEASE QWEST COMMUNICATIONS COMPLETES MERGER WITH U S WEST, CREATING $85 BILLION BROADBAND INTERNET COMMUNICATIONS COMPETITOR NEW BOARD OF DIRECTORS NAMED; COMPANY ADDED TO S&P 500 DENVER, JUNE 30, 2000 -- Qwest Communications International Inc. (NYSE: Q), the broadband Internet communications company, today completed its merger with U S WEST, Inc. The companies closed the transaction in 49 weeks, faster than any other large merger in the communications industry. Government officials at the federal and state levels gave fast-track approval to the merger, which is the first combination of old and new economy communications companies. The new Qwest will have an $85 billion market capitalization; expected pro forma year 2000 revenue of $18.5 billion and pro forma year 2000 earnings before interest, taxes, depreciation and amortization (EBITDA) of $7.4 billion. The merger produces a company featuring Qwest's broadband Internet data, video and voice communications capabilities with digital subscriber line (DSL), wireless services and local communications services in 14 states. "During the past three years Qwest has become one of the fastest growing Internet communications companies in the world, solidifying Qwest's position as the third-largest carrier of Internet traffic. The new Qwest will have the scale, scope and growth characteristics to deliver more value for shareowners and to continue to lead the industry in the delivery of innovative applications and services," said Joseph P. Nacchio, who will continue to be Qwest's chairman and CEO. The new Qwest Board of Directors includes current Qwest board members Philip F. Anschutz, Joseph P. Nacchio, Jordan L. Haines, Cannon Y. Harvey, Vinod Khosla, Craig D. Slater, and W. Thomas Stephens. In addition, U S WEST appointed Linda G. Alvarado, Craig R. Barrett, Hank Brown, George J. Harad, Peter S. Hellman, Marilyn C. Nelson, and Frank Popoff. Each U S WEST share will be exchanged for 1.72932 shares of Qwest common stock. Qwest will issue approximately 882 million shares in exchange for U S WEST shares currently outstanding, or approximately 53 percent of the combined company's shares. The all-stock transaction will be accounted for as a purchase and is tax-free to U S WEST shareowners to the extent of the Qwest stock delivered in the transaction. For accounting purposes only, U S WEST will be deemed the acquirer and its assets and liabilities will be brought forward at net book value. Nacchio added, "Our new company will improve communication with elected and appointed state and federal officials, be faster in responding to customer service concerns, be stronger 2 in the competitive marketplace, and continue to develop cutting-edge, high-tech solutions for our customers." The new Qwest is expected to have a compounded average annual revenue growth rate of approximately 15-17 percent, and a compounded average annual EBITDA growth rate of approximately 20 percent, for the period 2000 through 2005. Revenue synergies of $12 billion over a five-and one-half year period are expected from the merger. Cost savings are estimated to be $4.4 billion over the same five-and one-half year period. Qwest will be added to the Standard and Poor's 500 list (S&P 500), replacing U S WEST. Widely recognized around the world as the standard for measuring large-cap U.S. stock market performance, the S&P 500 includes a representative sample of leading companies in major U.S. industries. The move to the S&P 500 further reflects Qwest's leadership position in the broadband Internet communications marketplace and will help raise awareness with new investors and customers. Announced on July 18, 1999, the merger was approved by shareholders of both companies on November 2, 1999. All federal and state regulatory approvals were received prior to June 30, 2000. The combined company will have 71,000 employees. Its headquarters will be at 1801 California Street in downtown Denver. ABOUT QWEST Qwest Communications International Inc. (NYSE: Q) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity-Registered Trademark- Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 104,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com. MEDIA AND INVESTOR CONTACTS: QWEST MEDIA: - ------------ Matt Barkett Tyler Gronbach (303) 992-2085 (303) 992-2155 matt.barkett@qwest.com tyler.gronbach@qwest.com QWEST INVESTORS: - ---------------- Lee Wolfe 800-567-7296 IR@qwest.com This release may contain forward-looking statements that involve risks and uncertainties. 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, adverse changes in the regulatory or legislative environment. This release may include analysts' estimates and other information prepared by third parties, for which Qwest assumes no responsibility. Qwest undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The Qwest logo is a registered trademark of, and CyberCenter is a service mark of, Qwest Communications International Inc. in the U.S. and certain other countries. 3 MERGER FACT SHEET Headquarters: 1801 California Street, Denver, CO 80202 Combined expected 2000 pro-forma revenue $18.5 billion Combined expected 2000 pro-forma EBITDA $7.4 billion Market Capitalization $85 billion (based on 6/30/00 closing price) Customers 29 million Employees 71,000 Global fiber optic route miles 104,165 World wide presence 14 Countries CyberCenters (Data Centers) 7 currently, more than 40 by 2003 Sales offices 151 Sales representatives 6,500 Transfer and Exchange Agent Bank of New York Shareholder Relations Department-11E P.O. Box 11258 Church Street Station New York, NY 10286 1-877-268-2263
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