New York’s Davis Polk & Wardwell and Debevoise & Plimpton have secured the lead roles on Verizon Communications’ $6.7bn (£3.5bn) high-stakes takeover of MCI, as the consolidating telecoms industry continues to produce top-level work for US advisers.

Debevoise is acting for Verizon, a major telecoms services provider, on its bid for long distance and corporate phone company MCI, which has been agreed despite a higher offer from Qwest Communications.