Qwest Still Putting Up a Fight in Ongoing MCI Bid War

    April 22, 2005
    Chris Crum

Qwest Communications has once again decided to increase its offer in the ongoing battle with Verizon for MCI.

Qwest’s bid is now at $9.9 billion, or $30 a share, and the company has given MCI until Saturday to take it or leave it.

Qwest has said that this is its final offer, but if I’m not mistaken, it said that before and MCI still went with Verizon. Of course there has to be a price that MCI can’t refuse. Is this the one? We will see.

According to a Forbes article,

“MCI spokesman Brad Burns said the board is reviewing Qwest’s bid and ‘will respond in due course.’

Qwest’s new offer puts pressure on MCI to push Verizon to raise its own offer closer to Qwest’s $30 bid.”

It will be interesting to see who wins this bid war, and how long it will take to end.

Chris is a staff writer for WebProNews. Visit WebProNews for the latest ebusiness news.