The deadline for completing the deal, which was originally announced in June 2006, has now been extended to October 31, 2007.
The proposed combination will establish Burlington, Massachusetts-based iBasis as one of the five largest international wholesale voice carriers with combined 2006 revenues exceeding $1.2bn. iBasis is to acquire KPN subsidiary KPN Global Carrier Services and receive $55m in cash while KPN will receive 51% of iBasis’ shares.
