WiMAX Telecom files for insolvency

3 Nov 2009

Austrian mobile broadband operator WiMAX Telecom has filed for insolvency following reports that hardware supplier Alcatel-Lucent is demanding payments, which the operator can not currently fulfil, according to TradingMarkets.com. Both parties failed to reach a new payment agreement and when WiMAX Telecom failed to find new investment, Alcatel-Lucent demanded payment before 30 October of this year. The operator first contracted the French-US vendor to deploy WiMAX networks in Burgenland and Steiermark in 2005, followed by regional deployments in Lower Austria, Higher Austria and Vorarlberg, and currently serves around 2,600 customers. WiMAX Telecom reportedly has financial means to continue operating for between three and four months, during which time it will continue to search for new investors.