Saturday, March 12, 2005

Going for broke.

Qwest is rumored to be ready to make a new offer of $8 billion (or $25/share) for MCI. This is much higher from the original Verizon offer of $6.7 billion, and MCI shareholders should now force it to accept this offer.

But this is bad news for Qwest well-wishers (are there any ?). Unless Qwest cuts costs aggressively and is able to get its debt costs lowered, it will be broke within a couple of years.

I will be selling any Qwest shares that I get in exchange for MCI.

I would still like to see Verizon making a higher (and winning) bid for MCI and someone like BellSouth go after Qwest.


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