KPNQwest administrators' deadline of midday Tuesday passed without any official announcement of whether customers had paid enough to keep the network afloat, while the administrators' staff said they had no idea why the announcement was delayed.
However, a source close to the talks reportedly told Reuters Tuesday that trustees for KPNQwest have raised enough funds from its customers to keep Europe's largest data network operating through the end of June. "The plan has been approved. There are enough funds to keep the network up until July 1," the source said, according to Reuters.
Hopes are fading that the network can be kept alive, although rumors suggest there may be a bidder waiting till the very last minute to pick up a working network at a rock-bottom price.
Many of KPNQwest's large customers have made alternative arrangements, with cable TV operator UPC moving its traffic away on Monday. Since the customers are more valuable than the network, this must diminish hopes of any continuation of KPNQwest's business.
Customers were originally given until Monday to pay upfront for service during May and June. Administrators Eddie Meijer and J C van Apeldoorn originally promised to announce whether their efforts to raise pledges were successful at the end of Monday. The deadline was then shifted till 2:30 PM Tuesday, but no announcement had been made as of the close of business on Tuesday.
Reuters contributed to this report.