KPN Loses Bid To Speed Up IBasis Acquisition

Law360, New York (August 17, 2009, 1:03 PM EDT) -- A Delaware judge has denied Dutch telecommunications company Royal KPN NV's request to expedite argument and stay discovery in a suit filed by majority-owned subsidiary iBasis Inc. in an effort to ward off KPN's tender offer to take iBasis private.

Vice Chancellor Leo E. Strine Jr. of the Court of Chancery of the State of Delaware ruled Friday that discovery for both sides would proceed and a hearing would be scheduled for October, iBasis said Monday.

KPN had asked the court to hear only its own...
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