Qwest Communications International Inc. raised its bid for MCI Inc. to $9.7 billion, saying it was making its “best and final offer” after being rejected three times by the long-distance telephone company.
The offer, $30 per share, is about 30 percent more than a buyout deal MCI has accepted from Verizon Communications Inc. Previously, MCI directors rejected Qwest as a suitable choice because of its heavy debt and worries over the long-term value of Qwest shares.
