16:52 PM
Now that Embarq (EQ +1%) and CenturyTel (CTL +0.8%) have agreed to provide faster Internet speeds to rural customers, the FCC may decide this week in favor of their $11B merger - the last regulatory hurdle facing the deal.
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Thursday, April 30, 2009
08:45 AMCenturyTel (CTL): Q1 EPS of $0.82 beats by $0.02. Revenue of $635M (-2%) vs. $634M. Shares +2.0% premarket. (PR)
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07:26 AMConfirmed: CenturyTel (CTL) is buying larger rival Embarq (EQ) for about $5.76B in shares excluding debt, a 36% premium to Embarq's Friday close. Embarq shareholders will own 66% and CenturyTel 34% of the combined company. (PR)
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06:43 AM
CenturyTel (CTL) is set to buy larger rival Embarq (EQ) for about $5.76B in stock excluding debt, sources say. The deal marks a significant step toward the much-anticipated consolidation of U.S. regional phone carriers.
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