What insiders are saying
Rocky Mountain News
Monday, April 25, 2005
"It is time for Verizon to match the Qwest offer or walk away (this) week and not hold the entire process hostage by forcing a vote on their current offer that has no chance of approval."
- Elliott Associates LP, a hedge fund that holds MCI shares, in a statement
"There's no turning back now (for Verizon). It's really strategic for both (Verizon and Qwest to buy MCI)."
- Patrick Comack, an independent telecommunications analyst in Miami
"Verizon's hand is really forced; they'll have to raise their bid. But Verizon is also in a much better financial position, while Qwest really has to stretch all its resources to make this deal work."
- David Willis, an industry analyst at Gartner
"The MCI board did what was proper and logical. There's no reason for us to take less than what Qwest is offering."
- Leon Cooperman, chief executive officer of Omega Advisors, which owns MCI stock and has provided financing for the Qwest bid
"There are not insignificant risks (for MCI shareholders) involved in turning a deal (with Verizon) down."
- Morton Pierce, head of the mergers group at Dewey Ballantine
"We don't believe the risks associated with acquiring and integrating MCI are worth the prices being offered by either Qwest or Verizon. Thus, the only winners in this equation stand to be short-term MCI shareholders."
- Ben Silverman, an industry analyst for the investment newsletter FindProfit.com