Qwest Reaches Agreement with SEC, Union Official Says

Qwest Communications International Inc. has tentatively agreed to pay $250 million to settle federal regulators' fraud allegations, a union official said Friday -- a move that could help lift a cloud that has hung over the telecommunications giant for nearly 2 1/2 years. Such a settlement would help Qwest put to rest a tumultuous period during which it has been under investigation for everything from how it booked revenue to deals that it made with other telecom companies.

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