Royal KPN is rumoured to be planning to acquire its bankrupt subsidiary KPNQwest in a deal worth E20 million. Over 40 bidders had originally expressed an interest in purchasing KPNQwest. KPNQwest collapsed in May owing approximately E220 million to various banks.
Royal KPN only plans to purchase KPNQwest’s KQ network, which consists of fiber optic rings in the Netherlands, Germany, France and the UK. KPNQwest’s Ebone IP backbone, which closed last week, will be sold separately.