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Monday April 04, 12:34
Qwest Sends Financing Commitment to MCI
(by Natali Novak)

Qwest Sends Financing Commitment to MCI

Qwest Communications said on Monday it has provided to MCI the merger agreement. MCI’s refusal was followed by their own «superior proposal», according to the company’s officials.

The next step of merger talks will be held as soon as possible, as MCI has already agreed to be acquired under a sweetened bid from Verizon Communications Inc.

The pending disappearances of AT&T Corp., which is being acquired by SBC, and MCI Inc., the subject of a bidding war between Verizon and Qwest Communications International Inc., will remove the two most formidable opponents to the lobbying efforts of the Baby Bells, so called because they were formed as part of the legal settlement that broke up AT&T’s old Bell System in 1984.

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Read the related news and articles:
16 May 2005 10:59 AM MCI CEO Capellas tries to win support for Verizon’s takeover bid
03 May 2005 05:07 AM Verizon wins MCI battle
26 Apr 2005 08:52 AM Qwest can start tasting victory over Verizon in fight for MCI
25 Apr 2005 09:58 AM Qwest to close the happy end in fight for MCI
22 Apr 2005 07:52 AM Qwest raises its bid for MCI
 


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