Versatel doubles its losses

Telecoms firm Versatel saw its year-on-year loss from continuing operations almost double to €23.2m in the third quarter of this year. In the second quarter, Versatel booked a loss of €34.8m.

Third-quarter earnings benefited from an out-of-court settlement reached with KPN over a long-running dispute, Versatel said. Turnover was up 15% to €109.5m. Versatel claims to now have some 114.800 residential customers.

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