Qwest to offer more cash for MCI


Yahoo! News: Looks like Qwest is ready to sweeten the pot and offer more cash for MCI, according to Reuters. The new bid for MCI would value MCI at $24.60 a share, and the bid will be offered to the MCI board next week. Enough to make them “think long and hard,” said one source. “They wanted cash and protection and they’ll have both.” Verizon will have 5 days to counter, and if MCI goes with Q, then VZ gets $200 million for scrapping the merger.

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