Qwest is likely to launch a new improved bid for MCI, this time with total support of MCI shareholders who are upset with the management selling out for cheap. “From where I sit, what has been reported as the Qwest offer appears to me to be superior, and I prefer that one,” said Bill Miller, chief executive officer of Legg Mason Capital Management, which as of Dec. 31 owned 5.6 million shares of MCI and 250 million shares of Qwest told The Wall Street Journal. “If they are rebuffed, Qwest should make the offer directly to the MCI shareholders.” The Journal lays it out - Qwest has a lot to loose if it doesn’t win MCI. The company has too much debt and is a small fish in a choppy sea dominated by large sharks.
Leave a Comment