Kosc Telecom Receives 6-month Lifeline In Court Insolvency Proceedings

The commercial court in Paris has given Kosc Telecom six months to find a buyer. In a statement, the wholesale operator said that it will continue to trade as normal while undergoing insolvency proceedings, Telecompaper reported. It also revealed that so far around ten companies, including financial firms, have expressed an interest in the business. At the end of October, the commercial court 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 Les Echos, this latest lifeline comes after two of Kosc’s main backers, OVH and state-owned bank Caisse des Depots, agreed to give the business a further EUR 4 million to fund its operations over the next three months. Read more