MCI Faces Shareholder Criticism

MCI has faced some criticism for its decision to reject an offer from Qwest communications. Some MCI shareholders will be voting against the company's merger with Verizon. "I haven't found a single shareholder who supports Verizon's bid," said William H. Miller III, chief executive of Legg Mason Capital Management, which owns 5.6 million shares of MCI stock. "We are not going to support the Verizon bid. It's irrational." In a statement, MCI said it "took into consideration a number of uncertainties in terms of value and likelihood of closing, including the negative sentiment among MCI customers toward a Qwest combination." According to a Qwest is optimistic that MCI shareholders who agree that Qwest gave the better offer, will come to the company's rescue. Murdok | Breaking eBusiness News Your source for investigative ebusiness reporting and breaking news.