AUSWR
The Association of U S West Retirees
 

 

 

Stockholder sells 66 million shares of Qwest
By Jeff Smith
Rocky Mountain News
Wednesday, October 11, 2006

A Qwest stockholder, probably founder Philip Anschutz, sold 66 million shares of the stock worth $540 million, an analyst reported today.  JP Morgan analyst Johathan Chaplin reported the sale of the large block of stock in a research note to clients.

Anschutz spokesman Jim Monaghan couldn't immediately be reached for comment, while Qwest spokeswoman Diane Reberger said the Denver telco doesn't comment on market activities.

Besides Anschutz, there's only a few institutions that own more than 66 million shares of Qwest stock.

Anschutz owned about 300 million shares of Qwest, or 16 percent of the company, before a series of sales earlier this year.

The biggest one was in July, when he received $294.8 million as part of three contracts to sell as many as 45 million Qwest shares in the future.

Anschutz quit the Qwest board this spring, saying he wanted to focus on his private investments, which include the production of Hollywood movies.

Qwest shares fell 18 cents to $8.19 in brisk trading Wednesday morning.  The stock has soared nearly 50 percent this year.

http://www.rockymountainnews.com/drmn/money/article/0,2777,DRMN_23908_5058435,00.html