Verizon to buy MCI for $6.8 billion - sources
PHILADELPHIA, Feb 14 (Reuters) - Verizon Communications Inc. is expected to buy MCI Communications Inc. for about $6.8 billion in a move to provide more telephone and data services to large corporations, sources familiar with the situation said on Monday.
Verizon's proposal was lower than a $7.3 billion bid from rival local telephone company Qwest Communications International Inc. , sources said.
The MCI-Verizon agreement is expected to be announced on Monday morning following final approval of the boards of directors' of both companies, sources said.
02/14/05 00:42 ET
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