Qwest Increases KPNQwest Share

Has purchased from Koninklijke KPN NV approximately 14 million shares of KPNQwest; KPNQwest announces IP VPN solution contract

December 11, 2001

1 Min Read

DENVER -- Qwest Communications International Inc. (NYSE: Q), the broadband communications company, today announced it had completed the purchase from Koninklijke KPN N.V., the Dutch telecommunications company, of approximately 14 million shares of KPNQwest N.V. (Nasdaq: KQIP; Amsterdam) for $4.58 per share. Anschutz Company, Qwest's principal shareowner, also purchased an additional six million KPNQwest shares at the same price. "Owning a larger stake in KPNQwest is a well-timed strategic opportunity as KPNQwest significantly expands its pan-European leadership position; fully funds its business plan after a major acquisition, and accelerates free cash flow," said Qwest Chairman and CEO Joseph P. Nacchio, who also serves as chairman of the KPNQwest board.In a separate release:HOOFDDORP, Netherlands -- KPNQwest, the leading pan-European data communications and hosting company has been selected by Mikli, acclaimed eyewear designer, for an IP VPN solution connecting its locations across Europe and the United States. The solution has already been implemented. Within weeks of contract signature, KPNQwest's IP VPN solution was implemented to connect Mikli sites in France, Norway, Belgium, the USA and Italy via the 20,000 km, macro-capacity KPNQwest EuroRings network, leveraging its interoperability with Qwest's 160,000km global network.KPNQwest NV Qwest Communications International Corp.

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