Verizon Makes Another Move for MCI

Verizon Communications Inc. has agreed to purchase 43.4 million shares of MCI Inc. common stock for $25.72 per share from eight entities affiliated with billionaire Carlos Slim Helu in the fight between Verizon and Qwest Communications International Inc. to acquire MCI. While this was an opportunity for us to purchase a block of shares under […]

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 […]

MCI Rebuffs Qwest Bid

MCI Inc. on Wednesday rejected an offer from Qwest Communications International Inc. in favor of a lower bid that would allow Verizon Communications Inc. to acquire the long-distance telecommunications company. MCI said in a statement it sought improvements on financial terms, certainty of close and other merger terms, but Qwest immediately rejected virtually all of […]

Qwest Says Deal for MCI Would Face Fewer Regulatory Hurdles

In a revised $8 billion bid to acquire MCI Inc., Qwest Communications International Inc. on Thursday said a deal would be subject to less scrutiny from regulators than if Verizon Communications Inc. acquires the long-distance phone giant formerly known as WorldCom. Qwest is confident that the significantly smaller footprint overlap in a Qwest/MCI combination will […]

ICG Goes to Venture Capitalists

ICG Communications Inc. emerged from bankruptcy two years ago, but the restructuring did not lead to prosperity. In fact, the Englewood, Colo., telecommunications company disclosed this fall in a proxy statement filed with the Securities and Exchange Commission that it would likely have to file for bankruptcy again and liquidate assets if it did not […]

Under the Influence

Posted: 3/2003 Under the Influence An editorial cartoon by Leo Cullum in the New Yorker shows an executive speaking to company shareholders. He says, "I want each of you on the way home tonight to stop, look up, ponder the heavens and consider how insignificant our second-quarter loss really is." The bit was published in […]

Business News – AT&T, MediaOne Complete Merger

Posted: 08/2000 AT&T, MediaOne Complete Merger AT&T Corp. ( and MediaOne Group ( have completed their merger, valued at approximately $44 billion based on AT&T’s closing stock price of $33.50 on June 14.With the addition of MediaOne’s 5 million cable subscribers, AT&T becomes the country’s largest cable operator, with about 16 million customers on the […]

The ID is: 73506