Qwest Merger With CenturyLink (Formerly CenturyTel) - Tax Cost Basis To Be Determined Later
Announced 4/22/2010:
On 4/22/2010 Qwest Communications International, Inc and CenturyLink, Inc. (symbol CTL) announced their intentions to merge. After the merger, Qwest will go out of existence. CenturyLink was previously known as CenturyTel.
This merger will require regulatory approvals. Thus, it is not yet known when the merger will be complete. It is estimated that this process may be completed in the first quarter of 2011. After the merger, CenturyLink will control a huge share of the wired telephone business. For that reason, regulatory agencies may cause delays or even stop the Qwest - CenturyLink consolidation.
Owners of Qwest shares are to receive 0.1664 CenturyLink shares for each share of Qwest common stock.
BTW, Qwest is *not* spelled Quest!
If you owned AT&T before the January 1, 1984 AT&T divestiture, you might now own Qwest and, if the merger goes through, you will be a shareholder in CenturyLink. Figuring your Qwest and CenturyLInk tax basis could be very time consuming. However, if you have the AT&T Divestiture Basis Tracker, this computation is done automatically.
If you need historical stock prices for Qwest (symbol Q), we recommend that you find those prices *before* the merger is completed. It is our experience that historical stock prices become hard to find soon after a security goes out of existence as Qwest will.
The AT&T tax cost basis (or stock basis) can most easily computed using the AT&T Divestiture Basis Tracker. You can order the Denver Tax Software, Inc. AT&T Divestiture Basis Tracker.
 |
Order & Download Now! Special discounted price for orders before 9/11/2010 $79. Regular Price $119. (3,011 KB Approx. 3 minute download [broadband]). Order licenses for additional machines. |
See the 4/22/2010 announcement.
Get more information about the AT&T Divestiture Basis Tracker.