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NEW YORK (AP) - MCI Inc. said Monday it won't amend a "poison pill" provision limiting the ability of investors to accumulate more than 15 percent of its stock, a statement that followed Verizon's surprise weekend purchase of a 13.4 percent stake in the long-distance company.
The announcement came amid speculation MCI might try to help Verizon Communications Inc., its preferred merger partner, end a bidding war with Qwest Communications International Inc. by clearing the way for Verizon to acquire more stock from major MCI shareholders.
On another front, MCI's board is planning to ask Verizon to pay all MCI investors more after Verizon's weekend agreement to pay a single large MCI investor well above the price the companies settled on two weeks ago, The Wall Street Journal reported late Monday on its Web site, citing unidentifed sources.
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