Technology

Administrators of One.Tel look for buyers for Australian operations

Rupert Murdoch's News Corp. have been appointed to close the company's operations in the next 21 days, to avoid liquidation.

CBR Staff Writer June 4, 2001

One.Tel has agreed with major creditors Telstra and Cable & Wireless Optus, who are owed an estimated A$100m, to let Australian mobile customers to switch leased space to either one of the carriers for a small fee.

Operations in the UK, continental Europe, and Hong Kong have also been halted.

One.Tel owes some A$600m to creditors with the only thing that could save the company is a massive cash injection.

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