UPDATE: KPNQwest files for bankruptcy protection

ITworld.com –

Business Internet services company KPNQwest NV filed for protection from creditors on Thursday as it continues to work with banks and advisors to find funding alternatives, it said in a statement.

"It is business as usual and we will continue serving our customers. This is a pure financial matter, we have to deal with our debt," said KPNQwest spokesman Koen van Zijl.

KPNQwest's debt is estimated by analysts to be about

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