In April, rumors surfaced that Qwest was trying to sell off their long-haul fiber network, which connects long distance calls to other carriers. Qwest was apparently hoping to net about $2-3 billion from the deal -- and use it to pay down the company's $14 billion in debt. However, the efforts aren't going particularly well. Earlier this month, Cogent Communications CEO Dave Schaeffer pulled his company out of the running, saying the asking price was too steep. Reuters notes that AT&T and Verizon would only get involved if they could pick up the network at bargain basement prices. Level3 is expected to bid, but analysts don't see the assets picking up more than $2 billion.