Blog Post

Every One wants Qwest to buy MCI

Qwest is getting ready to take another run at MCI, and this time it has the support of a lot of people, reports The Wall Street Journal. “Qwest officials last night still were working on a modified proposal, which is expected to be announced today or tomorrow,” the Journal says. Throwing in their lot with Qwest is Elliot Associates which owns 2.72 million shares of MCI, and will profit handsomely if MCI sells to Qwest. The Consumer Federation of America, a large consumer advocacy organization, says Verizon-MCI deal is bad for consumers, but they are okay with MCI-Q merger. Big question on everyone’s mind: What will Carlos Slim, MCI largest shareholder do? [Read the story in Wall Street Journal.]