Summary:

Qwest’s second attempt at taking over MCI is getting a cold shoulder from CEO Michael Capellas. In a conference call with investors he told investors that he likes the deal with Verizon. “We will do our utmost to drive that through.” Not sure if the board […]

Qwest’s second attempt at taking over MCI is getting a cold shoulder from CEO Michael Capellas. In a conference call with investors he told investors that he likes the deal with Verizon. “We will do our utmost to drive that through.” Not sure if the board of directors back the Verizon deal any more, but Capellas is making his position clear. Meanwhile the company reported a net loss of $32 million in the fourth quarter. Most telling, however is the sharp decline in the revenues. Quarterly revenue decreased 10 percent to $4.97 billion from $5.5 billion a year ago, AP says. The revenue loss is because of a shrinking long distance business.

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