MCI Accepts Verizon Offer

Reuters is repoting that MCI has accepted Verizon's bid of $8.5 billion dollars for the telecom company.

“MCI said it accepted Verizon’s lower price because its large business customers had threatened to defect if it was sold to Qwest. Qwest did not go quietly, accusing MCI of tilting the bidding war inVerizon’s favor and shortchanging shareholders.

“It is no longer in the best interests of shareowners, customers and employees to continue in a process that seems to be permanently skewed against Qwest,” the company said in a statement.”

Read more at Boston.com