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IP Mobile Files for Bankruptcy Protection
 

Tokyo, Oct 30, 2007 (Jiji Press) - Japan's IP Mobile Inc. filed for bankruptcy protection Tuesday, abandoning plans to offer mobile telecommunications service amid funding difficulty.

The Tokyo-based startup company made the filing with Tokyo District Court after finding it difficult to keep operating.

The company recently sought capital injections from potential partners, including a Hong Kong telecommunications company, but the efforts failed.

IP Mobile needed to start offering service by Nov. 9 as required by regulators.

IP Mobile offered to return its mobile license to regulators.


By Jiji Press, (c) Jiji Press

Copyright © 2010 JCN. All rights reserved. A division of Japan Corporate News Network KK.



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