Well at least we know they presented a formal offer a week ago. So ball's in other party's court, they can accept, reject or negotiate.
Probably best to assume it won't happen until it does - were you around a year or so ago when GTE said they were in talks with someone? It was 2 or 3 QRs later before they said they had got nowhere with it and both parties left it open, or something... last week, this felt a lot more serious.
