May 9, 2005 8:12 AM PDT
Qwest rallies MCI shareholders
The Wall Street Journal reported on Monday that Qwest has been talking to MCI's largest shareholders in an effort to rally support for a takeover.
Qwest, which withdrew its $9.9 billion offer last week after MCI's board accepted Verizon's $8.5 billion offer, could have enough support to overturn the board's decision, the article said. MCI accepted Verizon's offer because many large business customers threatended to cancel their services if the company was sold to Qwest, the company said last week.
An MCI shareholder vote on the Verizon offer could be held as soon as late June or early July, the WSJ said.
Marguerite Reardon has been a CNET News reporter since 2004, covering cell phone services, broadband, citywide Wi-Fi, the Net neutrality debate, as well as the ongoing consolidation of the phone companies. E-mail Maggie.
