[AP] Qwest Communications International Inc. says it is calling off the bidding for its long-distance business without finding a buyer.
In a statement Monday, the Denver-based telecommunications company said holding on to its long-distance network would deliver more value to shareholders than a sale.
The company did not say how much the bids it received were worth. But news reports last week indicated Qwest received bids far below the $2 billion to $3 billion the company wanted.
Qwest to keep long-distance business
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