Q. When did I receive CenturyLink shares? How many shares did I receive for my Qwest shares??
A. The merger of CenturyLink and Qwest Communications was completed on April 1, 2011. Qwest shareholders received 0.1664 shares of CenturyLink common stock in exchange for each share of Qwest common stock owned.
Q. Were fractional shares issued as a result of the merger?
A. No. Shareholders will receive a check for the cash value of any fractional shares of CenturyLink common stock as soon as practicable after the merger.
Q. What are the U.S. tax consequences of the transaction?
A. This was structured as a non taxable event. But it does trigger a very small taxable event, because of the fractional shares which were cashed out. You will have to work with your CPA or tax advisor to determine how it’s handled.
Q. What is my cost basis?
A. Since the transaction was a tax-free, stock-for-stock transaction, your total cost or investment in your Qwest share remains the total cost or investment basis for your CenturyLink shares. However, if you are trying to calculate your cost basis previous to the CenturyLink transaction, you may download the Qwest/USW cost basis workbook by clicking here.
In addition, the IRS requires certain information (associated with events that affect a shareholders basis in stock) be made available to shareholders. This information for 2011 is available:
April 1, 2011 CenturyLink/Qwest merger (Click HERE)
Q. I didn’t receive any stock certificates for my CenturyLink stock. Where are my shares?
A. CenturyLink uses the Direct Registration System (“DRS”). Through DRS, your shares are registered electronically on the records of the corporation in an account maintained by Computershare Trust Company, CenturyLink’s transfer agent. Your shares were credited to your account and you will receive a statement evidencing these shares. Computershare may be reached at 1-800-969-6718.
Q. I was a former USW shareholder. How do I calculate my cost basis?
A. Click here for a downloadable Qwest/USW cost basis workbook.
Q. I need to know the price of Qwest stock on a particular date in the past. How do I find that information??
A. You can find a historical price for Qwest Communications (Q) using our Historical Price Look-up tool. Click here.
Q. I need to know the price of USW stock on a particular date in the past. How do I find that information?
A. You can find a historical price for U.S. West Communications (USW) using our Historical Price Look-up tool. Click here.
Q. I still hold USW certificates, what should I do with them?
Dates of Issue
U S West (Old)
1/3/1984 - 10/31/1995
Exchange for “New” US West
U S West Communications Group (New)
11/1/1995 – 6/30/2000
Exchange for Qwest Communications
US West Media Group
11/1/1995 – 6/12/1998
Exchange for MediaOne, then AT&T Broadband, then Comcast. Contact Comcast’s transfer agent, Wells Fargo at: 1-888-883-8903.
If you still hold the original certificates for US West or USW Communications Group:
Check unclaimed property for the state of residence to see if your shares have been turned over to the state as unclaimed property; www.unclaimed.org.
If your property is listed by the state you will have to work with the state to reclaim the property. Your original certificates will be your proof of ownership.
Your shares may have been sold through a merger clean-up or odd-lot program offered by USW where submission of the certificate was waived prior to the merger with Qwest.
If you feel that neither of these apply, you may send the original certificate(s) to CenturyLink’s transfer agent with a letter requesting the value and disposition of the certificate(s).
Send to : Computershare
Attention: Corporate Actions
250 Royall Street
Canton, MA 02021