OXFORD, United Kingdom-In an unexpected decision, Orange has named U.S. citizen Solomon Trujillo as its chief executive. Finance Director Simon Duffy announced his resignation following the chief executive appointment, which was expected to be an internal Orange executive.Trujillo will replace Jean Fran
LONDON-Orange SA has chosen Solomon Trujillo to lead the company as chief executive officer, replacing Jean Francois Pontal who resigned in December.Trujillo, who has been a member of the board at Orange since 2001, served as president and CEO of U S West for...
NEW YORK-Following an unsuccessful court challenge by some bondholders, Qwest Communications International Inc. reduced its outstanding debt by $1.9 billion to $22.6 billion through an exchange offer. Qwest offered the chance for Qwest Capital Funding bondholders to swap those securities for notes issued by...
Fresh off the government's decision to release all participants from the financial responsibility related to the ill-fated auction of NextWave Telecom Inc.'s wireless spectrum, Verizon Wireless Inc. purchased 50 wireless licenses from Long Island, N.Y.-based Northcoast Communications L.L.C.The $750 million cash deal, which is...
NEW YORK-Following an unsuccessful court challenge by some bondholders, Denver-based Qwest Communications International Inc. reduced its outstanding debt by $1.9 billion to $22.6 billion through an exchange offer. Qwest offered the chance for Qwest Capital Funding bondholders to swap those securities for notes issued...
NEW YORK-Following an unsuccessful court challenge by some bondholders, Qwest Communications International Inc. reduced its outstanding debt by $1.9 billion to $22.6 billion through an exchange offer. Qwest offered the chance for Qwest Capital Funding bondholders to swap those securities for notes issued by...
spectrum in Northcoast buyFresh off the government's decision to release all participants from the financial responsibility related to the ill-fated auction of NextWave Telecom Inc.'s wireless spectrum, Verizon Wireless Inc. purchased 50 wireless licenses from Long Island, N.Y.-based Northcoast Communications L.L.C.The $750 million cash...
DENVER-Qwest Communications International Inc. began a private offer to exchange $12.9 billion in debt securities of its Qwest Capital Funding Inc. subsidiary for new debt securities in an attempt to reduce outstanding debt and extend near-term debt maturities as the telecommunications company fights off...
NEW YORK-Standard & Poor's Ratings Services lowered its corporate rating on Qwest Communications International Inc. from single-'B'-plus to single-'B'-minus based on the company's weakened operations and lower than expected performance for its telephone operations during the second quarter. S&P also revised Qwest's CreditWatch rating...
DENVER-Qwest Communications International Inc. posted $188 million in wireless revenue for the second quarter of this year, a 4 percent increase from the $181 million the company reported for the second quarter of 2001. While Qwest did not report the number of customer additions...
WASHINGTON-The Federal Communications Commission on Wednesday announced a decision made May 14 to keep in place the selective router as the demarcation point for wireless enhanced 911 cost recovery.Verizon Wireless Inc., VoiceStream Wireless Corp., Qwest Wireless L.L.C. and Nextel Communications Inc. had urged the...
DENVER-Qwest Communications International Inc.'s stock price dropped more than 30 percent yesterday following news that the U.S. Attorney's office had begun a criminal investigation of the telecommunications service provider and a downgrade of the company's debt rating to junk status by both Moody's Investor...
NEW YORK-A strong correlation exists between poor corporate governance and the spate of debt downgrades to junk-bond status and, conversely, a link is emerging between socially responsible company practices and rating stability, said Diane Keefe, manager of the $19 million Pax World High Yield...
DENVER-Qwest Communications International Inc., which relinquished its title as the most embattled telecommunications company to WorldCom this week, reported the resignation of Marilyn Nelson as a director of the company. Nelson said her decision was made due to increasing demands as chairman, president and...
NEW YORK—Moody's Investor Services cut its long-term credit rating for Qwest Communications International Inc. citing concerns about the telecommunications company's liquidity position, cash drain at its long-distance operating subsidiary, slowing growth in its local telephone service, continued high debt levels, ongoing Securities and Exchange...
NEW YORK—Standard & Poor's downgraded its long-term and short-term corporate credit ratings on telecommunications provider Qwest Communications International Inc. due to an increasing risk profile of the company over the past several quarters and Qwest's $26.5 billion in debt at the end of the...
WASHINGTON—Several information technology and communications sector trade associations said they have submitted input, which be included in the "President's National Strategy for Critical Infrastructure and Cyberspace Security," set to be published at the end of July, on how to protect the nation's critical infrastructure...
DENVER—Qwest Communications International Inc. said the SEC has informed the company that it will be subject to a formal investigation regarding its accounting practices. The investigation follows an informal inquiry regarding the same matters launched by the SEC last month. Qwest said it...
DENVER—Qwest Communications International Inc. reported it would potentially reduce the carrying value of goodwill by an estimated $20 billion to $30 billion as a result of an accounting rule change. In addition, the accounting change will eliminate any further amortization of goodwill, which is...
NEW YORK—Moody's Investor Services lowered its long-term rating of Qwest Communications International Inc. and fully guaranteed Qwest Capital Funding from Baa2 to Baa3; its long-term rating for Qwest Corp. from A3 to Baa2; and the short-term ratings for both Qwest Capital and Qwest Corp....
NEW YORK—A class-action lawsuit has been filed in the United States District Court for the District of Colorado against Qwest Communications International Inc. claiming the company violated Section 10b of the Securities and Exchange Act of 1934 by issuing a series of materially false...
DENVER—Qwest Communications International Inc., which was unable to roll over part of its short-term debt on Thursday, has drawn down its $4 billion bank credit facility to address short-term liquidity needs in the commercial paper market. The telecom company said it was using the...
WHEAT RIDGE, Colo.—ARC Wireless Solutions Inc. said it integrated inventory and equipment, including base station antennas and very low profile antennas for use with a low-earth orbiting satellite networks, recently acquired from Ball Aerospace & Technologies Corp. into its newly formed Wireless Communications Products...
NEW YORK-Nortel Networks Corp. and Sprint PCS affiliate Alamosa Holdings Inc. tapped the debt markets for a total of $1.65 billion last week, providing another reminder that telecommunications bond buyers recently have been rushing in where stock investors fear to tread.The latest debt deals...
