Phone+ mag is announcing that Cogent tried to buy legacy Qwest (or Qwest LD/long-haul).
"Qwest reportedly wants between $2 billion and $3 billion for the long-haul network. The Denver-based RBOC has debt coming due and apparently thinks selling an asset as valuable as its long-haul infrastructure would make up for the loss of much out-of-region and government business."
Cogent said it was over-valued at $2.5B. More like, Cogent can afford it and was hoping for a fire sale.