Thursday, 5 March 2009

Azteca Mobile files for bankruptcy – USA

Azteca Mobile, a US based MVNO, has filed for bankruptcy in the US Bankruptcy Court located in Kansas City. The MVNO, which was formed around four years ago and focused on the US and Mexican mobile markets, owes in the region of USD600,000 to Sprint.

It was revealed in court that the company had assets of USD1.9 million and liabilities of USD22.3 million. The company made it known that they had an income of USD1 million in 2007, USD1.6 million in 2008 and USD247,000 to date this year.

Azteca Movil reported that it has sold its 4,500 remaining customers to Cozac Wireless, a subsidiary of APC Wireless. Cozac Wireless has purchased assets of other failing MVNOs in the past such as when it took on the assets of Movida Wireless.

The majority of Azteca Movil’s debt – which totalled over USD 17 million – was owed to Mexico-based Azteca Movil SA de CV a company owned by the television network TV Azteca.