Grumpy Old Telecoms

It is like you are watch telecom version of Grumpy Old Men – Jack Lemmon and Walter Matthau fighting over Ann Margret. Qwest and VZ are sniping at each other, as they tussle over MCI. Never mind, that anyone who ends up with MCI is going to love to regret it. But that’s for later. So here is a little sample of the sniping via Denver Post. On Monday, VZ Chairman Ivan Seidenberg wrote in a letter

Qwest’s bid for MCI is full of false statements and ‘might be more appropriately considered in the category of Modern Fiction.

Qwest chief executive Richard Notebaert today wrote in his own letter…

Verizon, who has released no details of the underlying benefits of its offer, continues in its shrill attempt to change the focus away from delivering maximum value to MCI shareholders.

Qwest is complaining that MCI board is ignoring its overtures despite offering more money. It recently upped its offer to $8.5 billion or roughly $25.60 a share. Never before anyone has offered so much money for something which is not worth half as much. Oh well now to more important question: Who is Matthau and who is Lemmon? You decide!