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KPNQwest Network bought out

  • 08-08-2002 2:02pm
    #1
    stormkeeper
    Registered Users, Registered Users 2 Posts: 2,633 ✭✭✭


    http://www.enn.ie/news.html?code=8170299



    The majority of KPNQwest's Ebone network has been purchased by UK company Interoute for an estimated 2 percent of the price KPNQwest paid for the same asset.

    Although Interoute has declined to say what it paid for Ebone's customers, hardware and fibre, early reports allege that the private firm spent only EUR15 million for the bulk of Ebone, or just 2 percent of the EUR645 million KPNQwest bought the network for earlier this year.


    KPNQwest purchased Ebone from GTS (Global Tele Systems) in March 2002. The EUR645 million buy saw KPNQwest issue approximately EUR211 million of 10 percent convertible bonds due in 2012 to former GTS bondholders and assumed an approximate EUR435 million of net bank debt and capital lease obligations.


    Sorry if this was posted before. But I haven't seen it in the forums at all, so I thought I'd post it.


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