By Alex Sherman and Jeffrey McCracken
CenturyLink Inc., the Louisiana-based landline phone service provider, is seeking to acquire Rackspace Hosting Inc. to further expand into cloud-computing services, according to people familiar with the situation.
CenturyLink has discussed the idea with San Antonio-based Rackspace, which last month said it is still conducting an internal review of its strategic options, according to the people, who asked not to be identified talking about private information. One person said a deal may not be reached for the company, which had a stock-market valuation of $5.33 billion at the end of last week.
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