Know When to Hold 'Em

8:00 AM -- One thing Qwest won't have to worry about in its attempt to woo MCI is a bidding war, according to remarks made by Verizon CFO Doreen Toben at an investment conference on Monday.

During the conference, a transcript of which was released to the Securities and Exchange Commission (SEC), Toben remarked that Verizon is holding its hand and waiting for Qwest to fold.

"On a bidding war, I would suggest we have put what we think is the winning bid on the table," the CFO said. "I would just suggest to you if you look at anything else we’ve done in our history on any other assets that we’ve purchased, be it spectrum, we have typically not gotten into bidding wars."

— Phil Harvey, News Editor, Light Reading

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