A desperate quest

Qwest again upped its offer for MCI (MCIP), now valuing it at around $30.4/share. The revised offer has a larger cash portion, and has the same downside protection as before on the stock exchange portion.

As a MCI shareholder, I would like this offer to go through. But this would be a pyrrhic victory for Qwest. It will be over-leveraged. And when interest rates go up ...

Who will be next ? I am looking at Global Crossing (GLBC) and Level 3 (LVLT) as potential targets. I have not done enough research on them and hence will reserve my comments for now. I will provide an update later.