MCI Rejects Qwest Buyout Offer - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

MCI Rejects Qwest Buyout Offer

MCI spurns Qwest buyout offer

MCI has rejected an eight-point-nine billion dollar buyout proposal from Qwest Communications. It will stick with a seven-point-five billion dollar offer from Verizon. Verizon and Qwest, two of the nation's biggest telephone companies, have been battling for about two months over MCI, which operates a national fiber-optic network serving a lucrative roster of government and corporate clients. MCI's board has been worried about Qwest's financial troubles, including a 17 billion dollar debt load and the long-term value of the Qwest shares that would be used as partial payment for the buyout.

No comment yet from MCI. Denver-based Qwest says it will evaluate the situation before deciding its next move.

  • FOX19 HeadlinesMore>>

  • Budget battle brews as Trump threatens another shutdown

    Budget battle brews as Trump threatens another shutdown

    Sunday, May 27 2018 8:04 AM EDT2018-05-27 12:04:06 GMT
    Sunday, May 27 2018 10:05 AM EDT2018-05-27 14:05:17 GMT
    (AP Photo/J. Scott Applewhite, File). FILE - In this March 30, 2017, file photo, the Capitol Dome is seen at dawn in Washington. The Senate has kicked off its annual attempt to pass government funding bills. Success is hardly assured, but President Don...(AP Photo/J. Scott Applewhite, File). FILE - In this March 30, 2017, file photo, the Capitol Dome is seen at dawn in Washington. The Senate has kicked off its annual attempt to pass government funding bills. Success is hardly assured, but President Don...

    President Donald Trump has warned Congress that he'll never sign another trillion dollar plus government-wide spending bill like the one he did in March.

    Full Story >

    President Donald Trump has warned Congress that he'll never sign another trillion dollar plus government-wide spending bill like the one he did in March.

    Full Story >
  • US Gulf Coast braces for impact as Alberto approaches

    US Gulf Coast braces for impact as Alberto approaches

    Saturday, May 26 2018 11:23 PM EDT2018-05-27 03:23:47 GMT
    Sunday, May 27 2018 10:04 AM EDT2018-05-27 14:04:49 GMT
    (AP Photo/Rogelio V. Solis). Tommy Whitlock, left, places a filled sand bag onto his trailer at a Harrison County Road Department sand bag location, as his friend Joseph Buckner adjusts the load while preparing for Subtropical Storm Alberto to make its...(AP Photo/Rogelio V. Solis). Tommy Whitlock, left, places a filled sand bag onto his trailer at a Harrison County Road Department sand bag location, as his friend Joseph Buckner adjusts the load while preparing for Subtropical Storm Alberto to make its...

    The governors of Florida, Alabama and Mississippi all declared states of emergency ahead of the storm.

    Full Story >

    The governors of Florida, Alabama and Mississippi all declared states of emergency ahead of the storm.

    Full Story >
  • The Latest: Spain rescues 366 migrants in Mediterranean

    The Latest: Spain rescues 366 migrants in Mediterranean

    Sunday, May 27 2018 6:53 AM EDT2018-05-27 10:53:54 GMT
    Sunday, May 27 2018 10:04 AM EDT2018-05-27 14:04:03 GMT

    Spain's maritime rescue service says it has rescued 366 migrants attempting the dangerous crossing of the Mediterranean Sea this weekend.

    Full Story >

    Spain's maritime rescue service says it has rescued 366 migrants attempting the dangerous crossing of the Mediterranean Sea this weekend.

    Full Story >
Powered by Frankly