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Verizon Enters End-game For MCI

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Verizon has moved a little closer to victory in its battle for rival telecoms operator MCI.

30% of MCI shareholders witheld their vote in re-electing the MCI board.

Any higher, say 40% and Qwest, currently dropped out of the bidding may have chosen to re-enter the fray.

Verizon's final offer, valued at $8.5bn was lower than Qwest's but had the backing of the MCI board.

MCI and Verizon are now progressing to the closing stages of the merger process. This includes a filing a proxy statement for the deal with the SEC and seeking shareholder approval.

MCI is the remnants of the former WorldCom.

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