By Graham Hayday, 12 July 2002 14:20
NEWS KPNQwest's network could be switched off once and for all tonight after parent company KPN's bid for part of the business was rejected by the bankrupt telco's liquidators. KPN formed a foundation with other KPNQwest customers to keep the network live after KPNQwest went into bankruptcy at the end of May, but said yesterday that it had decided to cut off support for the network from 2100 GMT tonight, according to a Reuters report. KPN said in a statement: "The receivers and the banks have still not responded positively to KPN's offer to take over remaining sections... of the KPNQwest network in north-western Europe... KPN regrets that this offer has not produced results, because an operational network has an appreciably higher value than a non-operational network." However, this is not the first time KPN has made such noises, and its statement is being seen by some as a tactic in securing a deal with the liquidators. KPN went on to say: "As far as KPN is aware, its offer is the only concrete one which the receivers have for the west European section of the network. "Whether the foundation's decision to stop support of the network leads to its closure depends on the receivers and the banks." Parts of the network in France, Italy, Germany and Finland were sold earlier this week to Sweden's Sonera and Finland's Jippii, but sections in Benelux, France and Germany are still up for sale.
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