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Qwest: Survey Shows MCI Shareholders Support Bid

Qwest Communications International Inc. on Friday said a survey reveals that MCI Inc. shareholders support Qwests $9.07 billion offer to acquire MCI, instead of a lower bid by Verizon Communications Inc.


In a survey conducted this week by The Altman Group, a proxy solicitor representing Qwest, MCI shareholders asserting to own more than half of MCIs outstanding shares indicated that they believe the Qwest offer for MCI is currently superior and they would support it, Qwest stated in a Securities and Exchange Commission filing.


Qwest is not disclosing the names of the entities surveyed over an offer that Qwest could eventually take directly to MCI shareholders despite MCIs agreement to merge with Verizon, the biggest phone company in the United States.


Verizon first announced plans to acquire MCI in mid-February for $6.7 billion in cash and stock, two weeks after SBC Communications Inc. disclosed an agreement to buy AT&T Corp. Verizon subsequently sweetened its offer, which is valued at $7.64 billion.



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