Feeds

KPNQwest warns punters to make ‘contingency plans’

Still talking to potential buyers

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Struggling Dutch telco, KPNQwest, is advising its customers to put in place contingency plans with other providers in case its own network goes belly-up.

The warning comes as KPNQwest admitted that it still hadn't reached an agreement with a potential buyer concerning the future of the operation.

Last week the fibre-optic outfit filed for bankruptcy protection after the banks pulled the plug on the company's credit facility.

The collapse of the company led to speculation that unless a deal could be secured it would be forced to pull the plug on its network leaving its business customers stranded without network connectivity.

Those fears now appear to be all too real. In the statement the company said: "In the interest of maintaining customers’ business and network continuity, the company is advising customers that they may wish to put in place contingency plans with other providers in the event of a significant deterioration in the performance of the KPNQwest EuroRings network."

KPNQwest said its is working with its customers to help them put these emergency plans in place.

The administrators and the management board of KPNQwest also confirmed that they hadn't been able to find a buyer for the business but that negotiations will would continue.

It said: "The company also confirms that there are advanced discussions with parties interested in purchasing its Central European business on a stand-alone basis as a going concern."

However, any agreement is likely to take at least three to five weeks to be completed.

In the meantime, the company is looking to sell its non-critical assets, which should raise enough cash to keep the operation going in the immediate future.

It's hoped that this sale will be completed by close of play on Friday 31 May.

Earleir today shares in KPNQwest were suspended in Amsterdam pending today's announcement. ®

Related Story

KPNQwest collapses

Internet Security Threat Report 2014

More from The Register

next story
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
NASA launches new climate model at SC14
75 days of supercomputing later ...
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
DEATH by COMMENTS: WordPress XSS vuln is BIGGEST for YEARS
Trio of XSS turns attackers into admins
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.