Fergie's Tech Blog

Qwest complains 'bidding war is 'skewed'

An Associated Press article over at USAToday explains that:

Saying the bidding war with Verizon had been skewed against it, Qwest appeared to retreat from the bidding war for MCI on Monday after MCI agreed to another new deal with Verizon, rejecting a higher-priced bid from Qwest for the fourth time.

"It is no longer in the best interests of shareowners, customers and employees to continue in a process that seems to be permanently skewed against Qwest," the Denver-based company said in a statement. "We pursued MCI with tenacity and discipline and feel strongly that our bid would have brought far more value to MCI shareholders."

posted by Fergie @ 5/02/2005 12:22:00 PM