News
Last days of Amp'd
Tim Green Jul 20 2007, 10:00am
Verizon Wireless is ready to pull the plug on the ailing MVNO Amp'd Mobile.
The giant US operator wants to move the MVNO to bankruptcy and disconnect it from the network it has been leasing. Verizon says Amp'd has been burning though cash since filing for Chapter 11 in June. It believes the barrel is nearly dry and that Amp'd should be wound up.
Legal papers said: “(Amp'd) has been given ample opportunity to secure debtor-in-possession financing which has not materialised, (so) this court should not permit this case to be run for a single additional day on Verizon Wireless' back”.
Since filing for bankruptcy, Amp’d has apparently run up $15.6 million dollars in charges for use of the Verizon network.
