Shares of MCI Inc. rose Friday after Qwest Communications International Inc. raised its takeover offer to $9.7 billion, or $30 a share, in a last-ditch effort to snatch the long-distance phone company away from rival Verizon Communications Inc.
Qwest faces several hurdles in its pursuit of MCI, whose board has already accepted Verizon’s latest bid of $7.6 billion, or $23.10 a share, MarketWatch reported.
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