Report: Bids for Qwest's long-distance arm falling short

Early bids for Qwest's long-distance business are said to have come in well below the $2 billion to $3 billion that the company had expected, with some reportedly valuing the network at less than $1 billion. Industry observers see Level 3 Communications as the most likely buyer, but XO Communications and TW Telecom may also be in the running.

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