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Monday, May 2, 2011

Documents show French telecoms company MobiWire in receivership

MobiWireFrench telecoms company MobiWire - formerly Sagem Wireless - appears to have filed for insolvency.

Court documents show receivership (“redressement judiciaire”) being pronounced on 28th April and papers being issued today, with a hearing set for 23rd June 2011.

Myriad Group, a Swiss mobile technology business, says it’s owed around 7 million Euro by MobiWire from a deal signed last year and will be taking action against MobiWire shareholders.

Simon Wilkinson, CEO of Myriad Group, said “We are extremely disappointed in the actions of the Mobiwire management, and its shareholders, in causing this failure and its subsequent knock-on effect to Myriad and other Mobiwire creditors. Our 2011 plans had no revenue or cash inflow from Mobiwire and we remain a financially stable company.”

We spoke to Jérôme Nadel of MobiWire at Mobile World Congress in February. Click here to listen to the 25th February 2011 podcast via our website - or find our podcasts free on iTunes.
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Author: The Fonecast
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