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Mergers & acquisitions

Covad Buys Qwest's DSL Baggage

Covad Communications Inc. today announced that it was forking out $3.75 million in cash for 23,000 of Qwest Communications International Inc.'s (NYSE: Q) out-of-region DSL customers. The deal includes an additional payment of up to $1.25 million depending on the success of the migration (see Covad Gets Qwest DSL Users).

From Qwest's point of view, it's getting rid of unprofitable business, which raises an obvious question: Why is Covad buying it?

Find out on Boardwatch.

— Jo Maitland, Senior Editor, Boardwatch

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