So MCI is really no longer MCI. As Verizon follows through with the buyout, I am wondering if that stigma that MCI has had over recent years as being one of the most annoying carriers on Earth will eventually subdue some.

MCI Inc. has accepted a revised US$7.64 billion acquisition bid from Verizon Communications Inc., rejecting a higher offer from Qwest Communications International Inc., MCI announced Tuesday.

The Verizon bid increases the cash payout to MCI shareholders and protects them against the possibility of a drop in the value of Verizon shares they will receive, MCI said in a statement explaining its decision.

In a statement announcing the decision, MCI said that its board considered the following matters as part of the discussion about which offer to take: changing competition in the telecommunications industry; increased need for scale and comprehensive wireless capabilities; access economics; how well the companies will mesh; strength of the capital structure; ongoing ability to sustain network service quality and invest in new areas; how best to ensure customer confidence among large business and government customers.

“We believe Verizon’s substantial increase in its offer, the strength of its competitive position and the financial certainty at close make this offer compelling to our shareholders, customers and employees,” MCI Chairman Nicholas Katzenbach said in the statement.

Under revised terms of the Verizon deal, each MCI share will receive cash and stock worth at least $23.50, which is an increase in cash of $2.75 per share, or about $900 million in the aggregate, MCI said. That brings the per-share cash payment to $8.75. Verizon may pay more cash instead of issuing additional shares beyond an agreed-upon exchange ratio. The original agreement on Feb. 14 called for MCI shareholders to receive $6 cash along with Verizon shares. [Read the rest]