Amp’d and Verizon reach deal

4 Jul 2007

A US bankruptcy judge has approved a deal which will allow struggling wireless reseller Amp’d Mobile to continue offering services. Amp’d, which is currently attempting a reorganisation under Chapter 11 bankruptcy protection, will pay USD2.5 million to its wholesale partner Verizon Wireless to ensure customers can retain their connections. Amp’d owes Verizon Wireless a total of USD33 million, with Verizon billing USD10.6 million for June alone, Associated Press reports. Amp’d, which is more than USD100 million in debt, will drop a lawsuit filed after Verizon moved to end their wholesale deal.

United States, Verizon Wireless