Internet traffic problems expected as network faces shutdown

Europe's internet traffic may suffer a major slowdown in the next few hours.

KPNQwest's network which handles 40% of Europe's internet traffic is set to be shutdown later tonight.

An Amsterdam judge has ruled the court cannot force Citibank to provide KPNQwest with emergency financing.

Receiver Eddy Meijer said KPNQwest is now forced to shut down the network.

He says the receivers will hold one more talk with the banks today in an effort to reach an agreement.

However, he expects to issue a press release within a couple of hours announcing the network's shutdown.

Mr Meijer says, at best, the network will likely continue until midnight before disruptions to service start.

He noted it is theoretically possible for the receivers to appeal the decision but a ruling would take at least six weeks.