After an 11 week battle, Verizon communications has emerged the victor in the battle for MCI. Qwest has cried foul claiming that MCI “never intended to negotiate in good faith.” MCI explains that their largest customers simply don’t want to merge with Qwest. The protracted battle brought unwanted attention to Qwest’s $17.5 billion debt, its lack of a cellular business and an underused long-distance network.
MCI’s board has accepted a takeover offer from Verizon of $26 a share.
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