What’s up at MCI?

Wall Street Journal notes that late Tuesday night Qwest Chief Executive Richard C. Notebaert and several MCI officials — including court-appointed monitor Richard Breeden and director W. Grant Gregory had a chat.

On the call, MCI asked Mr. Notebaert to raise Qwest’s current bid of $27.50 a share to $30 a share and requested stronger assurances in the agreement for Qwest to stick with the deal in spite of potential customer losses or other downturns in MCI’s business after a deal would be signed but before it closed.

Okay if this is true, . MCI folks may have some sense of terrible times ahead, and that’s why they want those assurances. Not a good sign for any eventual owner. Or is it a game of Chicken little being played out in the telecom boardrooms?

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