TMCnet News
Telecom operator Mfone announces insolvency after 2-decade operations in CambodiaPHNOM PENH, Jan 11, 2013 (Xinhua via COMTEX) -- Cambodia-based telecommunication operator Mfone, part of the Thaicom Group, announced insolvency and migrated all its existing subscribers onto the Mobitel network as a consequence of the on-going financial difficulties, according to the firm's press release on Friday. "After careful consideration and keeping the interests of it customers at the forefront, Mfone had chosen Mobitel as the best option for its customers to migrate to given Mobitel's strength as the best quality network provider and leading brand," Mfone said in the press release. An agreement was signed on Friday between Mfone and Mobitel which stipulates that Mobitel will immediately provide national roaming services in the kingdom to all Mfone subscribers for a period of 60 days starting Jan. 14, 2013 so that Mfone subscribers will not experience any interruption in accessing services, it said. In parallel, both companies will work together to migrate Mfone' s subscribers to the Mobitel network, it said, adding that Mfone subscribers will be given free Mobitel SIM cards to enable them to migrate to the Mobitel network and Mfone customers will keep their existing numbers and prefix. Mobitel is the kingdom's largest mobile phone operator, which is owned by a Cambodian influential tycoon Kith Meng. With the insolvency of Mfone, it will bring down the number of mobile phone operators in the kingdom to six. Last month, Hello Axiata Company Limited and Smart Mobile announced to merge their operations under the brand name Smart Mobile. Hello Axiata Company Limited's Chief Executive Officer Simon Perkins said at that time that the merger was due to many operators in the kingdom, expressing hope that through consolidations, it will come down to three to five operators. |