Fergie's Tech Blog

Verizon raises MCI bid to about $8.45 bln

Reuters reports this morning that:

Verizon Communications Inc. on Monday raised its bid for the No. 2 U.S. long-distance phone company MCI Inc. to at least $8.45 billion, which MCI said was superior to a bid by rival suitor Qwest Communications International Inc.

Verizon, the largest U.S. telephone company, said its revised offer provides at least $26 per MCI share, up from its prior bid of $23.10 a share, and compared to a $9.9 billion bid by Qwest, that is worth essentially $30 a share.

posted by Fergie @ 5/02/2005 08:06:00 AM