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Louisiana phone company CenturyTel has announced plans to buy Qwest Communications International Inc. for nearly $10.5 billion, which will double its customer base.
According to the release, the merger will unite two of the country's largest landline phone companies, with operations in some 40 states across the country.
It also represents a long-awaited consolidation play for Qwest, a remnant of the regional "Baby Bell" companies that has struggled to stay competitive with the national ascendancy of the wireless operations of...