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CenturyTel to acquire Embarq in $5.8 billion deal

Monday, October 27, 2008 | 12:54 p.m. CDT; updated 4:05 p.m. CDT, Monday, October 27, 2008

NEW YORK — CenturyTel Inc. on Monday said it will buy Embarq Corp., a larger fellow phone company, for stock initially valued at $5.8 billion.

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