What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to provide investors with updated information regarding Verizon's March 4, 2005 dividend declaration and, more significantly, to offer an update on the previously announced acquisition agreement with MCI, Inc., as presented by the CFO at an investor conference.

How does the MCI acquisition affect Verizon's plans for disposing of access lines?

The MCI acquisition has led Verizon to re-evaluate the timing and scale of potential access line dispositions. Decisions regarding these dispositions are being deferred until the MCI acquisition approval process advances, and the number of access lines to be disposed of is now expected to be considerably less than the 10-15 million lines initially considered.

Where can investors find more detailed information about the MCI acquisition?

Investors can find more detailed information by obtaining free copies of the registration statement, proxy statement, and other related filings that Verizon intends to submit to the SEC. These documents will be available on the SEC's website (www.sec.gov), Verizon's investor relations website (www.verizon.com/investor), and can also be requested directly from Verizon or MCI's investor relations departments.

What risks does Verizon highlight in this filing?

Verizon highlights several risk factors that could materially affect future results, including adverse economic and industry conditions, labor matters, changes in technology, credit ratings, regulatory proceedings, competitive pressures, the timing and financial impact of deploying broadband technology, spectrum availability for Verizon Wireless, accounting changes, and the potential liabilities and integration challenges associated with the MCI transaction.

VZ 8-K SEC Disclosure — Mar 7, 2005

Summary

Verizon Communications Inc. (VZ) filed an 8-K on March 7, 2005, primarily to provide an update on their previously announced acquisition of MCI, Inc. and to clarify information regarding a dividend declaration. The company presented this information on March 7, 2005, during the Raymond James Institutional Investors Conference, delivered by their Executive Vice President and Chief Financial Officer, Doreen Toben. Of significant note for investors, Verizon is re-evaluating the timing and size of potential dispositions of access lines in light of the MCI acquisition. The company indicated that decisions on these dispositions would be postponed until progress is made in the MCI acquisition's approval process. Furthermore, the scale of any such dispositions is now expected to be considerably smaller than the previously contemplated range of 10 million to 15 million access lines, suggesting a potentially less disruptive impact on Verizon's existing operations and competitive landscape.

Key Highlights

1Verizon provided an update on its pending acquisition of MCI, Inc. during the Raymond James Institutional Investors Conference.
2The company announced a re-evaluation of potential dispositions of access lines, linking the decision to the progress of the MCI acquisition's approval process.
3The potential size of access line dispositions is now expected to be significantly smaller than the previously stated range of 10-15 million lines.
4Verizon plans to file a registration statement, including a proxy statement for MCI shareholders, with the SEC for the proposed transaction.
5Investors are urged to read these upcoming SEC filings for important information regarding the MCI acquisition.
6The filing includes forward-looking statements and outlines various risk factors that could materially affect future results.

VERIZON COMMUNICATIONS INC 8-K Report, Corporate Update (Mar 7, 2005)

Summary

Key Highlights

Frequently Asked Questions