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Latest attempt to cut debts...
Published: 20 November 2001 09:21 GMT
Troubled Dutch telco, KPN, is expected to announce a new share offer later today in a bid to raise E5bn (£3.1bn).
Debt-laden KPN is in desperate need of the cash having seen its sales plummet and its share price fall 90 per cent since its March 2000 high.
It is also struggling to justify the billions it spent on UMTS third generation mobile licences last year. Earlier this month senior KPN executives said Europe was unlikely to see 3G services in earnest until 2003.
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