Just when you thought the Qwest-Verizon-MCI drama was over, it's not.
On Thursday Qwest upped its bid once again for MCI, adding another $500 million to its offer. Qwest's new offer of almost $9 billion trumps its previous bid of $8.45 billion and Verizon's sweetened offer of $7.6 billion. MCI announced on Tuesday that it had accepted Verizon's revised offer.
Qwest has already set a deadline of April 5th for MCI's board to consider its offer. After the deadline, Qwest has said it will withdraw its offer.
But there are indications that Qwest may not . Yesterday, the company said it had hired a proxy consultancy, which could mean that it plans to take its offer directly to shareholders, bypassing the board of directors altogether.