Longer and more tortuous than a Russian novel

That seems as good a way as any of describing the saga surrounding MCI's sale. Just when you think it's gotten as exciting as it can -- lawyers, proxy fights, angry investors -- it gets even weirder.

The latest news: Verizon (whose bid makes a lot of sense for the company but not for the shareholders) has announced a deal to buy 13 percent of MCI's stock from a Mexican billionaire. You can't make this stuff up.

The theory is that Verizon can maneuver more successfully through the MCI proxy fight if Verizon has a significant block of voting shares to its name. Elegant from a purely Machiavellian perspective, although notably lacking in charm. Especially because Verizon is offering the Mexican billionaire significantly more per share than the value of their current offer, which has had the unfortunate, albeit presumably unintended, effect of angering a significant block of the owners of the other 87 percent of MCI.

Where this will all end up is beyond my feeble powers of prognostication. But increasingly I have this sinking sense that Qwest will win out. Just so long as I don't have to be in the room when they write the check to Verizon to cash out that 13 percent stake, a nice little bit of Baby Bell icing on the cake after Verizon has already forced Qwest into an outrageously high bid.