THE PROPOSED European cellular service by Status Shipping
Line has hit a wall as investors' cash is not forthcoming.
"The reason for the suspension of the service is the result of delayed transfer of funds from the investors to the shareholder, Status Holdings," said Mark Ackland, m.d. of the shipping line. "This is for reasons entirely beyond the control or influence of the management of Status Line."
With no funds coming through from the investors, Ackland is determined not to launch a "bare-bones" service, he told FTW. "We have, therefore, had to temporarily suspend the service," he added.
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