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Verizon now controls 20% of MCI following the surprise purchase of shares from Mexican billionaire Carlos Slim.

The task facing Qwest is measurably more difficult now. Qwest and Verizon have been fighting over MCI, formerly WorldCom for months.

Slim received a higher price for his shares than other shareholders, but then he did have 13% of the shares to sell. At a selling prices of $1.1bn it is thought he made several hundred million dollars profit.

Qwest, may yet take their bid hostile. Indeed they took a swipe at the Sim-Verizon sale, saying it created two classes of shareholder.

Today's deal must make the prospect seem like a mountain.

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