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KPNQwest acquires Ebone and Central European business of Global TeleSystems.

TELECOMWORLDWIRE-19 March 2002-KPNQwest acquires Ebone and Central European business of Global TeleSystems (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com

Data communications and hosting company KPNQwest has completed the acquisition of the Ebone and Central Europe businesses of Global TeleSystems Inc.

The acquisition is reportedly intended to consolidate KPNQwest's position as an IP data communications provider in Europe. The new combined company will connect 60 European cities over a 25,000 kilometre network.

Under the terms of the acquisition KPNQwest has issued approximately EUR211m of 10% convertible bonds due 2012 to former GTS bondholders and assumed an approximate EUR435m of net bank debt and capital lease obligations.

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Comment:KPNQwest acquires Ebone and Central European business of Global TeleSystems.
Publication:Telecomworldwire
Article Type:Brief Article
Geographic Code:4E
Date:Mar 19, 2002
Words:120
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