MCI… Blah, Blah, Blah… Wake Us When It's Over

from the sign-a-deal-already dept

We’re hesitant to even mention the fact that Verizon (in its “we-don’t-obey-no-steenkin’-deadlines” manner) ignored MCI and Qwest’s randomly imposed deadline for a new offer on buying MCI, but later did come out with yet another offer that MCI has “accepted” (which, of course, may stretch the “accepted” definition of “accepted” a bit further). It is entirely likely that Qwest will make another offer, and the various lawyers are all piling on top as fast as possible to start the class action lawsuits from shareholders, so this isn’t anywhere near over yet. However, we’re beginning to think that it will make the most sense to simply ignore this eBay-style auction of has-been MCI until a deal is actually done and the buyer’s remorse (whoever wins will absolutely have buyer’s remorse) sets in. It seems pretty clear that the only company enjoying all of this is probably SBC, who set off the frenzy with its deal to buy AT&T. Update: Qwest says they’re bowing out of the race, but that won’t stop the lawsuits, and their expected attempt to break up the deal anyway.

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