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Mci - Politics, Business, Civil, History - Posted: 20th Feb, 2005 - 4:18am
Posts: 2 - Views: 887
Selling out
Post Date: 15th Feb, 2005 - 12:56am / Post ID: #
NOTE: News [?]
Mci
VERIZON TO PURCHASE MCI FOR $6.6 BILLION
MCI Inc., the second-largest long- distance telephone company, agreed to be bought by Verizon Communications Inc. for about $6.6 billion, rejecting a higher offer from Qwest Communications International Inc., people familiar with the matter said.
Ref. https://deseretnews.com/dn/view/1%2C1249%2C...12056%2C00.html
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Post Date: 20th Feb, 2005 - 4:18am / Post ID: #
Mci
I think it was a good idea to except Verizons offer over Qwest. Qwest is worth roughly 7.2 billion dollars but is in debt by almost 18 billion dollars. If Qwest cant manage their smaller company, what would lead one to believe that they could effectively manage a much bigger company.
MCI has been in trouble for awhile and realized that the 100 billion dollar company in Verizon, has the money and know how pull MCI out of the gutter and into the black. MCI is looking to get out of debt and start making money again and they couldn't do it alone with the circumstances as they are. This merger also will raise their stock in the long run as well as immediately.
TOPIC: Mci