MCI makes switch to Qwest

MCI, the American telecommunications firm, has switched sides in the battle for its control. The company, which carries a large amount of the world's internet traffic, appears to have given its backing to a bid from Qwest after the Denver-based suitor lifted its offer to $9.7bn (£5.07bn) at the end of last week. The latest offer was the third time that Qwest has raised its bid.

Until now, MCI had endorsed a rival offer from Verizon, arguing that it presented better long-term prospects even though the amount on the table, $7.5bn, was lower.

In a statement, the MCI board said the latest offer from Qwest was "superior" to the Verizon offer. Verizon has five days to respond. The MCI board cannot swing its recommendation to Qwest until the five-day period elapses. Wall Street analysts are expecting Verizon to improve its offer.