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MCI plans to review latest Qwest bid in next two weeks

Wednesday, March 2, 2005 | 9:20 a.m.

NEW YORK -- Long distance provider MCI Inc. said today it has gotten the blessing of its preferred merger partner Verizon Communications Inc. to talk with Qwest Communications International Inc. about that company's revised $8 billion bid to acquire MCI.

The announcement came a day after Qwest executives made a direct appeal to MCI investors to pressure MCI to scrap a $6.7 billion deal reached with Verizon two weeks ago.

MCI said in a statement its board "remains committed to performing its fiduciary duties and will evaluate Qwest's position over the next two weeks." It said it made the decision with the concurrence of Verizon.

In a separate statement, Verizon said it had agreed that MCI may engage in further discussions with Qwest through March 17, but reaffirmed that it thinks it "is the best partner for MCI."

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