Colin C. Haley

Qwest has left the MCI sweepstakes, but it didn’t go quietly. The Denver regional carrier this afternoon said it “isn’t in the best interests of shareholders, customers and employees to continue in a process that seems to be permanently skewed against Qwest.” “It appears that MCI’s board of directors has surrendered control of the bidding […]

MCI has jilted Qwest yet again. The Ashburn, Va., long-distance and enterprise network services provider today deemed Verizon’s latest $8.4 billion ($26 per share) offer superior to Qwest’s $9.7 billion ($30 per share) proposal. MCI officials listed several factors they say compensate for the $1.3 billion difference, including “the increasing need for scale and comprehensive […]

There was no word from Verizon this afternoon about whether it will continue its bidding war with Qwest for MCI . MCI’s board of directors last weekend finally deemed Qwest’s $9.7 billion cash and stock proposal superior to Verizon’s earlier $7.6 billion plan — something that was obvious to many MCI shareholders. The Ashburn, Va., […]

Business software giant Oracle is reportedly in talks to buy customer relationship management applications maker Siebel Systems . High-level talks have been under way for the last week for a deal that could be valued at $5 billion, The Daily Deal reported this morning. The news organization cited people close to the companies and industry […]

Nortel will pay $448 million cash for PEC Solutions to boost business with the U.S. Department of Homeland Security and other agencies. “This is the beginning of a great business area for Nortel,” Bill Owens, Nortel’s CEO, said in a conference call with analysts and reporters. Owens, a former U.S. Navy admiral and vice chairman […]

Motorola has invested an undisclosed sum in Voice over Internet Protocol specialist Asylum Telecom, the companies announced today. Asylum provides ISPs, resellers and corporate customers with communications services, including VoIP, that integrate with PBX systems and GSM mobile technology. The two-year-old firm, which partners with systems integrators and resellers, has customers in 25 countries. It […]

In recent weeks, MCI has spurned Qwest’s merger offers, choosing instead to stick with a lower bid from Verizon . That finally ended this weekend. The Ashburn, Va., long-distance and network services provider deemed Qwest’s $9.7 billion cash and stock proposal superior to Verizon’s $7.6 billion plan — something that was obvious to many MCI […]

In a move certain to irritate Verizon executives and titilate MCI shareholders, Qwest has raised its bid for MCI by $800 million to $9.7 billion. The cash and stock offer, which breaks down to $30 per share, is the latest in a battle between Qwest and Verizon for the Ashburn, Va., long-distance and network services […]

Cable giants Time Warner and Comcast have hammered out a $17.6 billion cash and stock deal to acquire bankrupt cable provider Adelphia Communications .The acquisition, announced today, trumps Cablevision’s $16.5 billion offerfor Adelphia and brings more consolidation to the cable industry.The acquisition could put more pressure on Verizon , SBC and other telecommunications companies by […]

UPDATED: Verizon customers in 13 states can drop their wireline phone service while retaining their broadband connection, a spokeswoman for the regional telecom said. Standalone digital subscriber line (DSL), sometimes called “naked” DSL, is aimed at subscribers who are happy with Verizon DSL but want voice service from a wireless carrier, Voice over IP startup […]

UPDATED: Rollout of third-generation wireless networks in the United States helped Lucent Technologies meet its second-quarter financial targets. In addition, the equipment maker said it will combine mobility and wireline units to speed product development and trim costs. Lucent’s services unit will remain a separate group. For the first three months of the year, Lucent […]

SeaChange will pay $25.5 million for Liberate Technologies’ international assets, as it looks to pad offerings for digital cable network operators, the companies announced today. The acquisition gives the Maynard, Mass., video-on-demand specialist applications to help cable companies run multiple services — including high-definition television and personal video recorders — on multiple platforms. SeaChange will […]