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Broadband

French wholesale operator Kosc faces insolvency proceedings

Monday 2 December 2019 | 10:17 CET | News

The future of Kosc Telecom is to be determined by a French court, as the company is likely to be forced into a disposal plan. One of the operator's wholesale customers, OpenIP, has informed its client base that it has decided to stop any new subscriptions to Kosc's fibre portfolio until more clarity emerges from the court proceedings. In a document seen by Telecompaper, OpenIP told clients that, while Kosc has become insolvent, its operations are expected to continue unaffected.

At the end of October, the commercial court in Paris had given Kosc more time to repay debt owed to Altice France. Since then, the operator has been actively negotiating a way forward with shareholders and potential buyers to avoid liquidation.

According to Le Figaro, Bouygues Telecom is a serious candidate to take over the struggling business and would have the support of OVH, which owns a minority stake in Kosc and accounts for the great majority of Kosc's revenues, as its main client.



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Categories: Fixed / Internet
Companies: Kosc Telecom
Countries: France
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