NEW YORK: US telecoms giant Verizon Communications Inc has reportedly floated an informal buyout offer for MCI Corp, the long-distance telephone company that has been awash in takeover speculation in the wake of regional phone company SBC Communications Inc’s US$16bil deal for AT&T Corp.
The Wall Street Journal reported that talks had accelerated between Verizon and MCI and that Verizon had floated an informal acquisition offer of cash and stock priced near the US$6.3bil that Qwest Communications International Inc had reportedly suggested in separate talks with MCI. The newspaper cited unidentified sources for the report.