Feeds

AT&T ‘pulls plans’ to buy KPNQwest

Carrier to be broken up

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

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

Intelligent flash storage arrays

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
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.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.