Qwest to sweeten sweetened offer - WSJ
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Posted in Financial News, 28th February 2005 12:41 GMT
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Qwest could be willing to tweak its already sweetened-offer for MCI, according to today's Wall Street Journal.
News that Qwest could be prepared to revise its offer comes just a couple of days after the giant US telco rejigged its $8bn (£4.23bn) offer for the company formerly known as WorldCom.
That offer, announced on Friday, stopped short of increasing its $8bn bid but did include additional assurances including guaranteeing the value of stock in the cash and paper deal.
At the time, Qwest chairman and chief exec Richard Notebaert called on the MCI board to reconsider the offer which, he said, was "even more compelling for your stockholders".
Now the WSJ reports that Qwest would be prepared to negotiate a deal if MCI signalled that it was prepared to hold talks.
Two weeks ago MCI accepted a $6.7bn (£3.55bn) offer in shares and cash from Verizon. ®
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