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April 23, 2005
MCI statement on Qwest offer
...Directors has determined that Qwest Communications International Inc.’s latest offer to acquire...with a revised proposal. Under Qwest’s irrevocable offer MCI...change its current recommendation in favor of the MCI/Verizon merger...payment of $0.40 per share) and 3.373 Qwest shares (subject...MCIP) is a leading global communications provider, delivering innovative...statements contained in the Private Securities Litigation Reform Act of 1995. The following...
June 8, 2006
Failed bid is no barrier to revival says Qwest ceo
...when he took over at Qwest Communications in mid-2002 staff were...not only do Qwest employees gain top...accounting scandal and too much debt...has put most of the litigation behind it, including...by the collapse of Qwest’s share price after accusations of fraud in the late 1990s, as...nearly 7,000 jobs – and to shore up the company... By Paul Taylor in New York
February 17, 2005
Qwest to submit new MCI bid
Qwest Communications is to submit a new bid for MCI...over its planned sale to Verizon Communications. In a letter to the MCI board on Thursday Richard Notebaert, Qwest's chief executive, said he intended...regulatory filing by Qwest with the US Securities and Exchange Commission. On Monday... By Paul Taylor and Aline van Duyn in New York
February 18, 2005
Qwest vows to re-enter MCI bid battle with a fresh offer
Qwest Communications is to submit a new bid for MCI...over its planned sale to Verizon Communications. In a letter to the MCI board yesterday Richard Notebaert, Qwest's chief executive, said he intended...regulatory filing by Qwest with the US Securities and Exchange Commission. On Monday MCI... By Paul Taylor and Aline van Duyn in New York
March 17, 2008
Retrial for ex-Qwest chief
...Nacchio, the former chief executive of Qwest Communications, and ordered a new trial. The Circuit Court of Appeals in Denver voted 2-1 to overturn all the...counts involving the sale of $101m of Qwest stock in 2001 ahead of the bursting of telecoms bubble which sent Qwest’s stock plunging. He was sentenced to six years in prison and ordered to forfeit $52m but the appeals... By Paul Taylor in New York
March 28, 2005
Qwest gives MCI a week to accept offer
...battle with Verizon Communications for control of...45bn offer. Qwest said the offer...deadline, contained in a letter sent by...share in cash and paper, represented...the right to cash in their securities at a fixed price...financing arranged by Qwest is designed to...this obligation in full if required...as being weak, and described Qwest...heated up when SBC Communications announced an agreed... By Paul Taylor in New York
May 2, 2005
Qwest net falls as it withdraws from MCI contest
...expected operating loss on Monday and pulled out of the 11-week bid battle...latest offer of $9.75bn was rejected in favour of a revised bid from Verizon Communications worth about $8.45bn. The telecommunications group, the smallest and financially weakest of the four US regional...of $310m, or 17 cents per share, in the same period a year ago. But excluding a $257m license sale, Qwest’s net loss reached $200m, or 11 cents...Qwest said. While Qwest could still re-enter the bidding ahead ofan MCI... By Paul Taylor in New York
June 12, 2007
Qwest chief to bow out
Qwest Communications International, the third-largest US telecommunications...Notebaert, 59, has been chairman and chief executive of Qwest since June 2002, taking over...boom of the 1990s. Qwest, based in Denver, Colorado, has movedback...by federal prosecutors and the Securities and Exchange Commission that have...efforts by Qwest to acquire MCI Communications in 2005, a fight which was won... By Aline van Duynin New York
April 19, 2005
MCI and Qwest move closer in takeover talks
Discussions between MCI and Qwest over the conditions under which MCI would ditch its agreement to be taken over by Verizon Communications and select Qwest instead have advanced significantly in recent days. According to people familiar... By Paul Taylor, James Politi and Aline van Duyn in New York
March 2, 2005
MCI to renew talks with Qwest
...group, on Wednesday re-opened merger negotiations with Qwest Communications, bowing to pressure...its spurned suitor and some of its own shareholders...a $6.75bn cash and stock offer from Verizon Communications in preference to Qwest's $8bn bid. MCI said...telecoms operations in the rapidly-consolidating sector. SBC Communications and AT&T have already...valued at $16bn. Qwest, smallest of the four... By Paul Taylor and James Politi in New York