Mfone $65 million in debt
Failed Cambodian telco Mfone owes at least $65 million to multiple creditors that sources say include the government. A court injunction to freeze Mfone‘s assets, obtained by the Post yesterday, shows Mfone owes Chinese telco provider Huawei Technologies more than $65 million. Phnom Penh Municipal Court judge Sin Visal has banned Mfone from selling any of its assets that are equal to the value owed to Huawei. … Asking not to be named, a source at Huawei said it had supplied metals to Mfone to be used for the installation of antennas in Cambodia. “The reason is that Mfone signed a contract with us to supply the materials, and they [should] obey the contract.” A source said the materials supplied to Mfone had been imported from China and supplied to Huawei Cambodia. …
http://www.phnompenhpost.com/2013013061068/Business/mfone-65-million-in-debt.html
