NEW YORK-U S West Inc. reportedly is in merger talks with Global Crossing Ltd., the independent global fiber-optic network operator that recently announced plans to purchase Frontier Corp.
Published reports indicate any deal between U S West and Global Crossing could face regulatory hurdles because Frontier provides long-distance service, and U S West is restricted with respect to offering long-distance service.
U S West shares were trading up slightly in afternoon trading Friday at just more than $61, although the company’s stock was up nearly 10 percent from its close at $55.56 on May 7.
In other news last week, Solomon D. Trujillo, U S West president and chief executive officer, was elected chairman of the company’s board of directors, said U S West. Former U S West CEO Richard D. McCormick stepped down as chairman and was elected chairman emeritus.
Shareholders also re-elected three board members, including Hank Brown, president of the University of Northern Colorado and former U.S. Senator from Colorado; George J. Harad, chairman and CEO of Boise Cascade; and Marilyn Carlson Nelson, president and CEO of the Carlson Companies Inc.
