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February 14, 2005

Verizon has agreed to acquire MCI for more than $6.7 billion in the third big telephone industry merger in two months reports the AP.

The agreement, which scuttles the competing bid for MCI by Qwest Communications, was announced Monday morning. The boards of directors of both companies approved the agreement.

The purchase price was about a half billion dollars below what Qwest offered for MCI, but likely won MCI's favor because it is larger and in better financial shape than Qwest, the local phone carrier across the more sparsely populated Rocky Mountains and Pacific Northwest.

Via Daily Wireless


Originally posted by samc from Daily Wireless, remediated by yatta on Feb 14, 2005 at 06:06 PM


Comments

Interesting and different perspective on the deal and the future for MCI/Verizon internationally in this bulletin:

http://www.zero-sum.net/mci.html

AG

Posted by: Armchair General at February 15, 2005 08:23 PM

Excerpt:
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