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Telecom Merger Frenzy: Qwest Trying To Buy MCI
from the keeping-the-i-bankers-busy dept
Well, that was fast. Following the SBC-AT&T deal, a lot of people predicted that BellSouth, Verizon or Qwest would probably make a play for MCI. Done and done. Apparently, Qwest is ironing out the details of a $6.3 billion bid for the company that would be thrilled to be completely rid of its somewhat tarnished name (even after dropping the Worldcom part). Still, others expect that Verizon, who clearly has both more money and more reasons to do so, may step in and bid for MCI themselves. And, of course, don't think Sprint (still trying to figure out how to gobble up Nextel) isn't in play either. The dominoes are falling, and the investment bankers are dancing in the streets as they'll be making plenty off of the fees on all of these deals even if many of them are just designed to prop up and obsolete system.
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the way things are heading....
the only surviving telco carriers in the US will be four baby bells on steroids: Verizon, BellSouth, SBC, and Qwest. Somehow I don't think either the judge who ordered the breakup, or the congressmen who passed the Telecom Act of '96, had this result in mind.
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WorldCom Stock?
What happened to the WorldCom (WCOME) stock?
Is there now, or was there ever, an affiliation with MCI? I'm confused.
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