News

MCI Reviewing New Qwest Offer

By Ed Oswald | Published March 17, 2005, 11:42 AM

MCI said early Thursday that it is reviewing Qwest's latest offer to buy the company, and will have a response by March 28. Qwest sweetened the offer by about $450 million – or $26 per share versus $24.50 in its first offer. To date, Verizon has not changed its offer, which still stands at $6.7 million or $20.75 per share.

Verizon is prepared to fight for MCI, however. In a letter to executives of MCI, Verizon CEO Ivan Seidenberg accused Qwest of misleading MCI and called the company's viability into question. "Qwest fails to explain the financial alchemy required to keep Qwest afloat, complete the acquisition of MCI, and invest in the business," he wrote.

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ogman
Mar 19, 2005 - 8:34 AM

What do you get when one bad company buys another? Investors will surely show us when they flee from this deal. Qwest is dead, all that is left is to toss dirt on the corpse.

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Ryokurin
Mar 17, 2005 - 7:24 PM

People know their history and still know that they still havent gotten over their previous issues. No one has purchased Quest allready because of this and buying MCI wont help. Give it up.

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