NEW YORK -- Qwest, the upstart telecommunications company that is trying to build a global network for high-speed Internet traffic, isn't giving up in its bid to acquire phone company Frontier Corp.
But after the latest word from Frontier, Qwest Communications International Inc. may take its $11.4 billion cash and stock bid directly to Frontier's shareholders.Qwest made offers earlier this month to acquire Frontier, a long-distance and local phone company, and US WEST Inc., a Denver-based regional phone company. Qwest sweetened its proposals last week after its first bids were not accepted.
Late Monday, Frontier's board said it "is continuing to evaluate the revised proposal by Qwest Communications to acquire Frontier" but said it still plans to proceed with its merger with Global Crossing.
Qwest is trying to break up an agreement Frontier and US WEST have made to be purchased by rival Global Crossing Ltd.