Anschutz Family Co
Sells Call Option On 7.2 Million Qwest Shares
Saturday, June 10, 2006
WASHINGTON -(Dow Jones)- An affiliate of Qwest
Communications International Inc. founder Philip F.
Anschutz on Friday reported the sale of a call option on 7.2
million Qwest shares, three days after reporting the sale of
a similar option on 10 million shares.
In Friday's disclosure, Anschutz Family Investment Co.
reported the sale of the option, which has an exercise price
of $7.50 a share, for $10.08 million. The option becomes
exercisable and expires on Feb. 19, 2008.
Qwest shares closed on Friday at $7.67.
A call option permits the buyer to purchase shares of stock
at a prearranged price.
The family investment company holds 17.2 million Qwest
shares, according to a Qwest filing made in March. With the
previously reported sale of an option on 10 million Qwest
shares, all of those reported holdings are now subject to
The 10 million-share option also has an exercise price of
$7.50 a share, and was sold for $13 million last Friday,
according to a filing made late Tuesday with the Securities
and Exchange Commission. That option is exercisable and
expires Jan. 18, 2008.
The buyer in the $13 million transaction effectively paid
$1.30 for each option on each share, and the buyer in the
second transaction paid $1.40. The identity of the buyer or
buyers wasn't disclosed in either filing.
In addition to the 17.2 million Qwest shares held by the
family investment company, Anschutz, through investment
vehicle Anschutz Co., holds an additional 283.2 million
shares and is the manager and a 1% equity owner in the
family investment company, the March proxy said.
The combined stake of the Anschutz affiliates in Qwest was
16.1%, according to the March disclosure.
Qwest announced in February that Anschutz, who stepped down
as non-executive chairman in 2002, would retire from the
company's board after its annual meeting, which was held
-By Tony Cooke, Dow Jones Newswires; 202-862-1347;
(END) Dow Jones Newswires 06-09-061830ET Copyright (c) 2006
Dow Jones & Company, Inc.