No matter what happens, looks like VZ will have to shell out more dineros for MCI, that is if it still wants the ailing long distance provider. A spokesperson for MCI’s biggest shareholder, Carlos “telco” Slim toldBloomberg News that Slim, opposes MCI-VZ deal and wants Michael Capellas to negotiate a better deal. MCI shareholders who control 26% of the company’s shares oppose the deal with VZ and want more dollars. Slim’s people say that while the $8 billion offer from Qwest Communications International Inc. is “better” than the $6.75 billion that New York-based Verizon agreed to pay, Q should up the ante. Slim holds a 13.7% stake in Ashburn, Virginia-based MCI.” MCI recently said that it will reopen negotiations with Qwest. Wall Street Journal adds that Slim and his family will take an “active interest in future developments relating to the pending acquisition proposals, and may communicate from time to time with other holders of the Common Shares and other interested third parties regarding such matters, and/or communicate their views to the Issuer’s board of directors and executive management.”
4 thoughts on “Carlos Slim opposes MCI-VZ deal”
Verizon should walk before upping its bid.
i think anyone who has sense should walk away from MCI. It is a titanic which will destroy everything.
Hi Om –
VZ could make $$$ on this, if the Qwest offer is accepted (i.e. the $200 million fine for cancelling the deal).
Well…its about time now….cant wait for the issue…Go VZ …GO!!! single B is not the panacea innit ?