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Europe Online reportedly bankrupt

Paris paper says Luxembourg court declared Europe's first online service bankrupt.

Europe Online, Europe's first online information service, was declared bankrupt Friday by a Luxembourg court, the French newspaper Le Monde reported Saturday without citing its sources.

The newspaper said Europe Online, which won court protection from creditors last month, has 25,000 subscribers making 400,000 connections a day. In July, the Luxembourg-based company lost the backing of its main shareholder, Germany's Burda.

During the past week, press reports said CompuServe, ITT Corp. and Deutsche Telekom were in talks with Europe Online to invest in the troubled company.

However, CompuServe said Friday it ended talks without reaching an agreement to invest in the company.