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Article: Qwest's MCI Bid Born of Need to Expand Its Base
- Article from:
- The Washington Post
- Article date:
- April 8, 2005
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Qwest Communications International Inc., hot to outbid a rival and
acquire a big telecommunications company, boasted that its offer was
"obviously superior."
"Qwest offers greater reliable synergies and upside potential,"
the company's chairman and chief executive said.
Those claims are not a recent rationale for buying MCI Inc. They
date to mid-summer 1999, when Qwest and Joseph P. Nacchio, who was
chief executive then, fought for and won regional telephone provider
US West Inc. for $41.5 billion in stock. The merged company was
hailed as a technology powerhouse for the future, offering
"integrated wireline and wireless services, and broadband and
Internet capabilities that are truly ...