On the Verizon
Verizon Communications announced to MCI that it will not offer a superior bid if the board accepts Qwest's higher proposal. MCI has been communicating with the two companies for the past several months, but has yet come to a conclusion. The problem exists because of Qwest's financial uncertainty and Verizon's lower bid. Qwest has offered a much higher bid with much higher risk. Frustrated at the endless talks, Verizon has decided to make the move. Either MCI takes Qwest's higher bid, or it takes Verizon's stability.
Posted by BOB at 4/05/2005 01:06:00 PM