MCI story continues

MCI:  Verizon is paying $1.1bn in cash to Mexican billionaire Carlos Slim for its 1.4% stake in MCI, and becomes the largest MCI shareholder. But the price paid for the stake at $25.7 a share is higher than the $23.1 a share offered to other MCI investors, and MCI shareholders are threatening court action against Verizon. The normal step now should be Verizon increasing its offer to $25.7 a share for all shareholders. But Verizon filed with the SEC the documents used for its former ($ 23.1 a share) offer. On the other side, Qwest is claiming more than 50% of MCI shareholders would oppose Verizon deal. So again, wait and see….