Qwest founder Phil Anschutz has sold his remaining stake in Qwest Communications except for a commemorative share from the company's initial public offering that's mounted on a plaque.

In his latest deal this week, Anschutz is receiving a prepayment of $150.5 million as part of a private contract to sell 20.6 million shares in 2010. He also sold 1.8 million shares outright for $24 million, according to a federal regulatory filing Thursday.

The filing listed Anschutz - who once owned about 300 million Qwest shares - with four Qwest shares remaining.

The four shares are equivalent to the commemorative share from the 1997 IPO after two stock splits, said Anschutz spokesman Jim Monaghan. Monaghan said he believes the share still is on the wall of Anschutz's Denver office.

Anschutz has grossed more than $1.5 billion from shedding his Qwest holdings during the past year. He also donated 53.5 million shares worth more than $450 million to his charitable Anschutz Foundation.

The sales by the astute Denver billionaire investor have made some people nervous about Qwest's future, wondering what Anschutz knows that they don't.

Anschutz is selling because he "continues to invest in different things," Monaghan said.

Monaghan reiterated that Anschutz has shown his confidence in Qwest's future by structuring the so-called forward sales contracts so he shares in the price appreciation. Anschutz typically shares in 25 percent of the stock's upside until contract settlement dates.

Anschutz also receives tax advantages - he's able to defer taxes because the sales aren't complete until the settlement dates.

Anschutz, who resigned from Qwest's board last spring, has recently been focusing on movie production, entertainment complexes, free daily newspapers and professional soccer.

Qwest hit a peak of $66 a share in March 2000 and a low of $1.09 in August 2002. In recent months, the stock has been hovering near five-year highs.

Qwest spokeswoman Diane Reberger declined to comment on the most recent Anschutz stock sales. As policy, the company doesn't comment on such transactions.

Qwest

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$8.74

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smithje@RockyMountainNews.com or 303-954-5155