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"Normally, new-line characters are inserted at the end of each line selected. This is best for cut and paste of source code, or the output of a particular command. For ordinary text, the line breaks are often not important. One might prefer, however, for the text to be a stream of characters that will be automatically re-formatted when pasted into another application. To select in text-stream mode, hold down the Ctrl key while selecting normally."

There is also a 'tip of the day' about this...
"...that pressing Ctrl while selecting text will let Konsole ignore line breaks? "