One.Tel owes Optus $70 million: Optus

The One.Tel fallout continues with Cable & Wireless Optus disclosing it is owed around $70 million by the failed telco.

A spokesman for Optus said media speculation had put the figure at $20 million or $30 million, but the total figure comes to $70 million.

"The administrator (Ferrier Hodgson) said between Telstra and us together, we had about $100 million (owed)."

A Telstra spokesperson had previously revealed the company had written off bad debts of $36 million on costs associated with the One.Tel issue.

Court documents released earlier this month show One.Tel's Australian business could have been insolvent for at least five months before the group was placed into voluntary administration on May 30.

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More about Cable & WirelessFerrier HodgsonOne.TelOptusTelstra Corporation

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