MCI's board is expected to meet on Saturday to consider the latest takeover offer from Qwest Communications, the third largest US regional telephone group, which raised its bid for MCI to $30 a share, or a total of $9.75bn, late on Thursday.

Qwest, which is seeking to persuade the MCI board to reverse its decision to accept a lower offer worth $23.10 from Verizon Communications, set a deadline of 5pm eastern time on Saturday for MCI to declare its bid "superior".