Austrian WiMAX Operator Files for Insolvency

­Austria based WiMAX Telecom has reportedly filed for insolvency after it was unable to meet payment demands from Alcatel-Lucent for network infrastructure.

According to Trading Markets, both parties failed to reach a new payment agreement and when WiMAX Telecom failed to find an investor, Alcatel-Lucent demanded payment before the end of October. The company has financial means to continue operating between three and four months, during which time the search for investor continues.

WiMAX Telecom has been awarded 3.5 GHz frequencies and licenses in Austria, Slovakia and Croatia. WiMAX Telecom owns nationwide licenses in Austria and Slovakia and has received 5 out of 6 regions in Croatia. WiMAX Telecom was founded in October, 2004 after winning its first license in Austria. In August 2005 the Company won the tender in Slovakia.

On the web: WiMAX Telecom - Trading Markets

Posted to the site on 6th November 2009