Qwest Agrees to Sell Yellow Pages
Qwest Communications (Q ) agrees to sell its yellow-pages business to a consortium led by Carlyle Group and Welsh, Carson, Anderson & Stowe for $7.05 billion. The deal will help Qwest pay down debt and avoid a possible bankrupcty filing, and is the biggest leveraged buyout since the buyout of RJR in 1989. (8/20)
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