MCI/Verizon Hanging up MCI

Sometimes boards simply get lucky. Certainly that looks to be the case for the directors at MCI, the telephone company that emerged a year ago emerged from WorldCom’s bankruptcy. That experience in Chapter 11 more than anything probably conditioned the way the MCI board acted when it became the subject of a takeover. From the get-go, MCI’s board left little doubt that it preferred a route that brought the company into a safe harbour rather than a highly-leveraged, but potentially high-reward, tr...