Qwest to sweeten MCI offer with more cash

Qwest Communications International Inc. is expected to raise its takeover offer for long-distance telephone and data services company MCI Inc. above $8 billion, sources familiar with the situation said Friday.

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The new bid, which would be given to MCI's board early next week, would value the company at more than $24.60 a share, the sources said. The bid would include more cash as currency than under Qwest's current proposal, sources said. The exact mix of cash, stock and dividends could not be determined.

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Qwest declined to comment. MCI could not be immediately reached for comment.

MCI had rejected Qwest's previous overtures in favor of a lower $6.75 billion acquisition offer from Verizon Communications Inc. Verizon then gave MCI two weeks to talk with the rival suitor about a merger.