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CTL > SEC Filings for CTL > Form 8-K on 21-Feb-2014All Recent SEC Filings

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Form 8-K for CENTURYLINK, INC


21-Feb-2014

Other Events


Item 8.01 Other Events

On February 18, 2014, Qwest Communications International Inc. ("Qwest"), a wholly-owned subsidiary of CenturyLink, Inc. ("CenturyLink" or "we", "us" or "our"), together with Koninklijke KPN N.V. ("KPN") and a number of individual affiliates of KPNQwest N.V. ("KPNQwest"), entered into a definitive settlement agreement with the trustees in the KPNQwest Dutch bankruptcy proceeding (the "Trustees"). In connection with Qwest's previously-announced preliminary oral settlement of this proceeding in October 2013, CenturyLink accrued a reserve that fully covers its payment under the definitive settlement agreement. Pursuant to the settlement agreement, Qwest paid approximately 171 million (or approximately $235 million based on the exchange rate on December 31, 2013) to the KPNQwest bankruptcy estate on February 20, 2014. This settlement resolves all claims under the 2010 lawsuit filed by the Trustees against Qwest, KPN and others, which is discussed in further detail in our annual and quarterly periodic reports previously filed with the United States Securities and Exchange Commission (the "SEC").
Forward-Looking Statements
Certain non-historical statements made in this release are intended to be forward-looking statements that are based on current expectations only, and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected or implied by us if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to proceedings challenging the definitive settlement agreement or raising new allegations, and other risks referenced from time to time in our filings with the SEC. You are further cautioned not to place undue reliance on these forward-looking statements, which are inherently speculative and speak only as of the date of this release. We undertake no obligation to update any of our forward-looking statements for any reason.


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