Friday, April 22, 2005

MCI Agrees that Qwest Offer is Superior

MCI's Board of Directors issued a statement concluding that Qwest Communications' latest acquisition offer is superior to the terms of the current MCI/Verizon merger agreement. Under the terms of the MCI/Verizon merger agreement, Verizon has five business days (through Friday, April 29, 2005) to respond with a revised proposal.

Under Qwest's irrevocable offer MCI's Board of Directors has until May 3, 2005, to change its current recommendation in favor of the MCI/Verizon merger agreement.