Archive for May 18th, 2009

Cogent: Qwest asking too much for long-haul assets

Cogent Communications (NasdaqGS: CCOI) examined the long-haul assets of Qwest Communications (NYSE: Q) and opted not to pursue an acquisition of them because the asking price was too high relative to its profitability, Cogent Chief Executive Officer Dave Schaeffer said at an investor conference today.

“The combination of the management’s expectation of valuation coupled with [its] negative cash flow quickly led us to conclude that we were not going to be an active bidder on that asset,” Schaeffer said in response to a question. more

Digg Syndication Del.icio.us Syndication Google Syndication MyYahoo Syndication Reddit Syndication

1 Comment

Email This Post Email This Post

Related Topics: All Stories |

Calendar

May 2009
M T W T F S S
« Apr   Jun »
 123
45678910
11121314151617
18192021222324
25262728293031

Your Account

Subscribe

Subscribe to RSS Feed

Subscribe to MyYahoo News Feed

Subscribe to Bloglines

Google Syndication