A long-awaited report into the collapse of KPNQwest, the data services joint venture between Dutch telco KPN and US-based Qwest Communications, has been delayed until next year in order to give accountants more time to analyse the case. The report was originally expected in the third quarter of this year. KPNQwest went bankrupt in 2002 after its parents and banks stopped funding the company.
Qwest has also begun an investigation of its own this week, as it looks into the dealings of a former human resources executive who is currently being sued by America Online (AOL) over claims that he embezzled funds whilst working for the ISP. Gregory Horton, who left Qwest for AOL in late-2002, is accused of siphoning off the majority of a USD100,000 contract to a company that he co-owned with a fellow AOL staff member. Qwest are now concerned that he may have committed similar fraudulent deals whilst working for them.