Anschutz Speaks to Investigators on Qwest

By: Associated Press
By: Associated Press

Qwest Communications International founder and director Philip Anschutz has spoken via phone with congressional investigators examining his knowledge of the company's financial troubles.

House Energy and Commerce Committee staff members are focusing on sales of nearly 6.1 million shares of stock in May and June 2001 that netted $213.5 million for the Anschutz Company. Anschutz is the sole owner.

Qwest said at the time that Anschutz was trying to diversify his portfolio and use the money for other business interests.

An Anschutz representative denies that insider information was involved in the sales. He says proceeds went into Anschutz's other business ventures.


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