AP: Qwest Raises Offer for MCI

Qwest Communications International Inc. on Thursday raised its offer for MCI Inc. to $8.94 billion in a bidding war with Verizon Communications Inc., the Associated Press reported. Qwest CEO Richard Notebaert set a deadline of midnight April 5 for MCIs board of directors to respond to the offer before it would be withdrawn, the Wall […]

Tangoe Raises $3 Million in Equity Round

Tangoe, a company providing enterprises software to manage their communications needs, announced Thursday raising $3 million in equity financing. Edison Venture Fund led the second financing round followed by Series A investors. “Tangoe has demonstrated that its software dramatically reduces an enterprise’s voice and data spend through automation and we are confident that its strong […]

Future of Qwest in Banks’ Hands

Qwest Communications International Inc., the Bell company under investigation by the Securities and Exchange Commission and Justice Department, posted a $1.14 billion net loss in the second quarter and could be forced to file for Chapter 11 bankruptcy protection by the end of the year, analysts said Thursday. Denver-based Qwest faces a cash crunch as […]

Pending Sales Orders Nixed Following WorldCom’s Woes

Independent sales organizations representing WorldCom Inc. ( have had a majority of pending contracts canceled two days after the telephone and Internet giant disclosed inflating earnings by $3.8 billion. "The immediate reaction, we had 60 percent of WorldCom orders in process canceled as of today," the president of a master agency said Thursday. "The reaction […]

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