Verizon Wireless is ready, once again, to dump its MVNO partner Amp'd Mobile, but this time because the MVNO has failed to secure a bankruptcy loan. Verizon Wireless said Amp'd has racked up charges of $370,000 a day to Verizon alone and it will only have $9,000 in cash by next Monday.
"Based on the record of this case and the fact that (Amp'd) has been given ample opportunity (over 46 days) to secure debtor-in-possession financing which has not materialized, this court should not permit this case to be run for a single additional day on Verizon Wireless' back," Verizon said Tuesday in court papers filed for Amp'd Mobile's bankruptcy case.
For more on Verizon Wireless' desire to dump Amp'd:
- read this AP article