Huawei withdraws injunction

Huawei Technologies (Cambodia) Co agreed yesterday to withdraw its injunction against Mfone in order to pave the way for a court-appointed administrator to sell the bankrupt company’s assets and compensate its many creditors. ... Along with other creditors, Huawei representatives expressed concerns that the assets would be sold below market price. ... Paul M Tithyasak, senior finance adviser to the administrator, said Mfone’s total assets are worth about $107 million. Among those assets are 1,037 base station towers that cost about $100,000 each. ...

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