Tuesday, April 12, 2005; Page E02
MCI's board of directors said it would not remove the "poison pill"
provision that blocks a shareholder from owning more than 15 percent
of the company's stock. The announcement came after New York-based
Verizon Communications agreed to purchase 13.4 percent of MCI's shares
from Mexican telecom magnate Carlos Slim Helu for $1.1 billion in
cash. The provision prevents Verizon from being able to buy all of MCI
by negotiating deals with other major shareholders. Verizon is trying
to block Denver-based Qwest Communications International from getting
enough shareholder support for a rival deal. Qwest released a
statement saying that MCI's rejection of its latest offer is not
consistent with shareholders' best interests.
<<snip stories on other industries>>
Compiled from reports by the Associated Press, Bloomberg News, Dow Jones
News Service and Washington Post staff writers.
Copyright 2005 The Washington Post Company
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http://telecom-digest.org/td-extra/more-news.html . Hundreds of new
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