'Wimax Telecom Austria files for insolvency'

Posted on: Mon, 02 Nov 2009 06:11:00 EST


Symbols: ALU
Nov 02, 2009 (DMEUROPE via COMTEX) --
ALU | Quote | Chart | News | PowerRating -- Austrian Wimax operator Wimax Telecom has filed for insolvency as its
hardware supplier Alcatel-Lucent is demanding payments, which the
operator could not fullfil. Both parties failed to reach a new payment
agreement and when Wimax Telecom failed to find an investor,
Alcatel-Lucent demanded payment before 30 October of this year. Wimax
Telecom started to deploy a Wimax network in Burgenland and Steiermark
in 2005, followed by Lower Austria, Higher Austria and Vorarlberg and
currently has 2,600 customers. The company has financial means to
continue operating between three and four months, during which time the
search for investor continues.

Distributed for DMeurope.com via M2 Communications (www.m2.com)

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