MCI accepts Verizons bid for buyout

MCI accepts Verizon’s bid for a buyout and leaves suitor QWest Communications in a lurch. MCI accepts the $7.6 billion by Verizon instead of taking the $8.45 billion by QWest. The financial position of QWest concerned the MCI board, which is why they didn’t go with the higher bidder.
Via ArsTechnica