Feeds

MCI rejects Qwest, cuddles up to Verizon

Better to have loved and lost...

  • alert
  • submit to reddit

Eight steps to building an HP BladeSystem

MCI has turned its back on Qwest and decided instead to be acquired by Verizon.

MCI - which had always had a fondness for Verizon but had been considering Qwest's advances - has finally made a decision.

Even though Qwest offered more for MCI ($8.9bn), the company formerly known as WorldCom decided, instead, to opt for Verizon and its $7.6bn bid.

In a statement MCI said the "Qwest proposal in its current form, taken as a whole, is not superior to its merger agreement with Verizon".

After weighing up all the options, including the "negative sentiment among MCI customers toward a Qwest combination", MCI rejected Qwest.

"MCI was not willing to jeopardize the certainty of its Verizon agreement for the uncertainties surrounding the Qwest proposal," it said.

Despite getting the brush off three times, Qwest still appears to have some fight left and appears to be willing to give it one go.

"MCI's Board of Directors has chosen to reject what we believe is a superior offer to acquire MCI. The company is currently weighing its options and shareholders will dictate the next steps in this process," it said. ®

Related stories

Crunch time for MCI/Verizon/Qwest lurve triangle
MCI mulls latest Qwest offer
Verizon finds $1bn more for MCI

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.