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.