Qwest Readies New Bid For MCI

Not to be outdone in Qwests fight for MCI, Qwest's chairman and CEO vowed his company is still committed to winning.

“”Our activities over the next 24 hours will demonstrate our commitment to winning MCI,” Richard Notebaert said in a statement Wednesday afternoon. “It is unfortunate that some in the process feelMCI shareholders should be deprived of the true value of their asset.”

News reports attribute sources close to the deal that say Qwest will raise its bid by nearly $500 million to convince MCI executives to dump Verizon’s bid for the company, bringing the total to nearly $8.5 billion. “

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