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.