Qwest Communications, the US telecommunications group that abandoned a three-month takeover battle for MCI this week, will press regulators to scrutinise industry mergers closely and could emerge as a bidder for assets spun off as a result.

Richard Notebaert, Qwest's chief executive, was speaking after the telecoms group reported a first-quarter profit of $57m on Tuesday. The profit reflected a gain on the sale of wireless licences and related assets to Verizon Wireless coupled with continued cost-cutting and margin improvements.