MCI wants $30 a share
Verizon and MCI still fighting...
MCI, the US telco at the centre of a tug-of-love between rival bidders Verizon and Qwest, is holding out for a valuation of $30 a share. According to anonymous sources quoted by the FT MCI would consider switching its allegiance from Verizon to Qwest if Qwest ups its bid to $30 a share.
It looked like Qwest had missed out last week when Verizon struck a private deal with MCI shareholder Carlos Slim to buy his 13 per cent stake.
MCI has always said it wanted to go with Verizon's offer even though it has been lower than Qwest's. Some shareholders have expressed concern about this strategy. Shareholders were also unimpressed that Carlos Slim was paid more for his shares by Verizon than that on offer to other MCI shareholders.®