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National Wireless Independent Dealer Association

TPO Looks to end US Operations

According to a RNS Release from TPO (The People’s Operator), the US and UK MVNO that gives a portion of the customer’s bill to charity is looking to end operations in the US to concentrate on the UK market:

Potential divestment of US Subscribers

The Board is negotiating final terms with a third party to migrate its US customer base to the purchaser’s platform. Shareholders and investors should note that no definitive documents have been signed at this stage and there is no guarantee that the deal will complete.

It is envisaged that the deal will comprise a cash payment in respect of each customer successfully transferred and completion will also release the various sums held as deposits and assurances by the Company’s US counterparties, which will revert to the Company.

Although the Company will retain its licence to operate in the US, the remainder of the US operation, including the small office in New York, the outsourced customer service operation and the outsourced legal and compliance functions will be closed. 

You can read the entire release HERE

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