Report: Verizon Makes Call for MCI

Just one week after Qwest submitted a $6.3 billion buyout offer to MCI, Verizon is eyeing a deal of its own. According to reports, Verizon has begun talks with the long-distance company and recently made an informal acquisition offer in stock and cash that matches the one made by Qwest.

Purchasing MCI would enter Verizon into a highly competitive corporate market, but a deal is far from assured. The Wall Street Journal reports that Qwest's talks with MCI have cooled off as speculation grew regarding Verizon's interest. With Qwest sitting on over $17 billion in debt, Verizon could easily come in with a higher offer.