Verizon agreed to let merger partner MCI again talk with Qwest af...
Verizon agreed to let merger partner MCI again talk with Qwest after Qwest again upped its bid for the CLEC Thurs. The Verizon statement comes after Qwest complaints that the MCI board was shortchanging shareholders. “Verizon has a signed…
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agreement with MCI that we believe will deliver superior value to MCI’s shareholders,” Verizon said in a statement: “At MCI’s request, we have agreed that it may have discussions with Qwest about any offer Qwest presents until the MCI shareholder vote.” Banc of America analyst David Barden, who said “the ball is back in Verizon’s court,” assumes Verizon will come back with a revised offer for MCI. Jessica Zufolo, analyst with Medley Global Advisors, said she isn’t sure how the fight will come out: “Qwest is making a full frontal assault and pulling out all the big guns to change the dynamics of this deal. It seems like the conventional wisdom is Verizon will pull it out.”