Versatel buyback delayed until 2002

Versatel, the Dutch broadband network operator, has pushed its convertible and straight debt buyback into next year after investors voiced opposition to the deal.

The company filed to repurchase €1.7bn ($1.5bn) of debt from bondholders in early October. It did not put a formal timetable on the proposal, but had expected to complete the deal in 2001.

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