AUSWR
The Association of U S West Retirees
 

 

 

New Mexico turns down Qwest settlement offer
Rocky Mountain News
Thursday, February 9, 2006

New Mexico regulators have rejected Qwest Communications' $85 million settlement offer in an investment dispute, saying the Denver-based telecommunications giant didn't follow proper procedures.

Qwest and the New Mexico Public Regulation Commission have gone to court over a 2001 commission order that Qwest must invest $788 million in New Mexico's aging telecommunications system by next month.  The company expects to be about $200 million short by the deadline.

After commissioners last April ordered Qwest to comply with the investment, Qwest asked the state Supreme Court to decide whether the company had to spend the money.  The court is expected to hear arguments in the case Tuesday.

http://www.rockymountainnews.com/drmn/other_business/article/0,2777,DRMN_23916_4452182,00.html