Is the jig up?

Well, when I went to bed last night, it looked like we were in for a hugely entertaining (for us) and hugely expensive (for Qwest) proxy fight over the fate of MCI. Now, however, Qwest's quest may be over. (Hey now, you have to have expected that lame pun eventually.)

Turns out that MCI has a poison-pill provision that would make any hostile bid hugely expensive.

Another interesting element from this TheStreet.com article is the following passage, which lends support to my suspicion that some of MCI's investors are more interested in cashing out than they are in building a viable long-term company:

Observers say the next step is likely to be a proxy battle in which MCI shareholders are asked to take sides. The vote is expected to be influenced by a number of large investors who may be looking primarily for a rich exit from MCI's stock, which declined sharply last year before being resuscitated by MCI's efforts to find a suitor.