Feeds

AT&T ‘pulls plans’ to buy KPNQwest

Carrier to be broken up

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

AT&T has ditched plans to buy KPNQwest leaving those running the collapsed company little option but to break-up the pan-European telecom network, according to the FT.

The paper claims the break-up and sale of KPNQwest could begin as early as this weekend.

AT&T's decision to call the whole thing off was blamed on the devilishly difficult task of organising the sale in the short time available.

An insider told the FT: "We have three days to sell what was once a E40 billion telecoms empire."

AT&T was regarded as the front runner in the bid to buy the bankrupt carrier. Now the liquidators will have to sift through more than 40 bids to find buyers for the 25,000 km network business.

UK-based pan-European telco Interoute Telecommunications Ltd and a consortium headed by Dutch venture fund Trimoteur have placed bids for parts of the network.

Anyhow, funds to keep the network limping on are due to run out today. Another day, another deadline. ®

Related Stories

KPNQwest sale sought urgently

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.