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KPN acquires KPNQwest link to the US

KPN has bought capacity on an undersea link to the US previously owned by bankrupt KPNQwest.

Financial details of the purchase of 8% of the capacity on the TAT -14 cable network that links the US with several European countries, were not disclosed.

KPN has already bought the Dutch and German parts of the KPNQwest network and undersea links to London from Paris and Amsterdam. Talks on the Belgian network of KPNQwest are still going on.

KPNQwest was declared bankrupt in May. Since then, parts of the one-time industry high-flyer have been sold at firesale prices. KPN founded KPNQwest in late 1998 with Qwest Communications International.

Most users of the KPNQwest network abandoned it after the company was declared insolvent. The network was kept running for several weeks while liquidators sought a buyer for the whole company, a search that failed. KPN was one of KPNQwest's largest customers.
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