MCI Reviewing New Qwest Offer

MCI said early Thursday that it is reviewing Qwest's latest offer to buy the company, and will have a response by March 28. Qwest sweetened the offer by about $450 million – or $26 per share versus $24.50 in its first offer. To date, Verizon has not changed its offer, which still stands at $6.7 million or $20.75 per share.

Verizon is prepared to fight for MCI, however. In a letter to executives of MCI, Verizon CEO Ivan Seidenberg accused Qwest of misleading MCI and called the company's viability into question. "Qwest fails to explain the financial alchemy required to keep Qwest afloat, complete the acquisition of MCI, and invest in the business," he wrote.