Optus writes off One.Tel debt

Cable & Wireless Optus has issued a statement confirming recent media reports that One.Tel owed it $68.3 million (CW June 22 01).

Optus said it would try to recover this money from OneTel. However, statementsby the administrators, Ferrier Hodgson indicate creditors cannot be certain ofrecovering any money owed.

Accordingly, Optus has said the $68.3 million debt will be written off.

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