Giant US telco Verizon is in a strop amid fears it could be jilted by MCI. It's told the company formerly known as WorldCom that if it decides to accept the $8.9bn offer from Qwest - even after already agreeing to be acquired by Verizon - then it will walk away from the deal.

Last week Qwest upped its offer to $8.9bn after Verizon increased its bid for MCI to $7.6bn. After much umming and aahing, MCI has decided to consider Qwest's offer.

Said the company in a statement: "Verizon believes that the decision facing MCI is not about the math of a particular moment in time; it is about good business judgement, the best interests of shareowners and the long-term viability of the new company.

"If the MCI Board, capitulating to Qwest's artificial deadline [midnight Tuesday], declares this bid to be 'superior', it would seem to us that the decision-making process is being driven by the interests of short-term investors rather than the company's long-term strength and viability."

And in a last ditch attempt to stop MCI running off with Qwest, Verizon said: "Together, Verizon and MCI would form a leading global competitor with financial strength, an extensive US and European presence, and industry leading capabilities in IP-based and wireless products and services.

"We believe a combined Verizon/MCI would be far better equipped to compete in the challenging industrial environment than a combined Qwest/MCI. Indeed, as we have written to you previously, we believe that instead of being an industry leader, a combined Qwest/MCI may not even form a viable competitor."

"Verizon's plan for MCI is clear and straight forward - Verizon intends to invest in MCI now and in the future so that MCI not only survives but prospers to become an even more formidable competitor," it said. ®

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