Alan Sugar, Tottenham Hotspur football club chairman and technology entrepeneur, may be about to make a bid to save Ionica, the troubled telecomms company.
Ionica, the UK based fixed wireless telephony operator, was forced to call in the administrators last month after failing to find an investor (see Newswire 29 October). Around 600 of its 1,000 staff were made redundant over the weekend.
According to reports, Sugar has held talks with Ionica executives and administrators Pricewaterhouse Coopers, but has declined to give further details.
The Cambridge based company has been looking for an investor since May, following a string of disappointing financial results.
Ionica's fixed wireless service, in use in East Anglia, the Midlands, and Yorkshire, uses radiowaves rather than wires to transmit calls from homes and offices to local telephone exchanges.
The administrators have said that, if they fail to find an investor for the company, its 60,000 existing customers will be transferred to alternative telecomms operators.
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