verizon  seals takeover of mci  verizon has won a takeover battle for us phone firm mci with a bid worth $6.8bn (£3.6bn)  reports say.  the two firms are expected to seal the deal on monday morning  according to news agency reports  despite what was thought to be a higher bid from qwest. the us telecoms market is consolidating fast  with former long-distance giant at&t being bought by former subsidiary sbc earlier this year for $16bn. mci exited bankruptcy in april  having gone bust under previous name worldcom. the bankruptcy followed its admission in 2002 that it illegally booked expenses and inflated profits.  shareholders lost about $180bn when the company collapsed  while 20 000 workers lost their jobs. former worldcom boss bernie ebbers is currently on trial  accused of overseeing an $11bn fraud. qwest has itself come under suspicion of sub-standard behaviour  paying the securities and exchange commission $250m in october to settle charges that it manipulated its results to keep wall street happy.  mci is the us s second-biggest long distance firm after at&t. consolidation in the us telecommunications industry has picked up in the past few months as companies look to cut costs and boost client bases. a merger between mci and verizon would be the fifth billion-dollar telecoms deal since october. last week  sbc communications agreed to buy its former parent and phone trailblazer at&t for about $16bn. buying mci would give either qwest or verizon access to mci s global network and business-based subscribers. the rationale is similar to the one underpinning sbc s at&t deal. verizon is by far the bigger company and has its own successful mobile arm - factors which may have swung the board in its favour since both suitors are offering a mixture of cash and shares.