Microsoft Corp. (Redmond, WA) will invest $200 million in Qwest Communications International Inc.

Microsoft Corp. (Redmond, WA) will invest $200 million in Qwest Communications International Inc. (Denver, CO) in an alliance designed to provide Internet-based services to businesses. The investment, at $45 per Qwest share, buys Microsoft about 1.3% of Qwest, which is building a fiber-optic network that will span 18,500 mi once completed in mid-1999. The deal also allows Qwest to cut the time to market for its business services by up to 12 months using software licensed from Microsoft. Qwest expects the new venture to generate about $150 million in revenue during the first two years, most of it in 2000.