Australian unlisted company, Apple Communications has made an offer to buy the Hong Kong business and customer base of One.Tel.
Apple Comm executive chairman, Daniel Cheng, lodged the offer with One.Tel's administrator Steve Sherman, subject to formal due diligence, and would be funded through the company's own cash flow.
"The assets of interest to Apple Comm in Hong Kong include One.Tel's customer base of more than 200,000 subscribers," Cheng said in a statement.
"Apple Comm would move quickly to integrate One.Tel's operation seemlessly into its own because it already had an external telecommunication service licence and management structure to operate in Hong Kong," he said.
The bid comes on the same day that former One.Tel executive Jodee Rich steps up security at his exclusive Sydney harbour home.
Apple Comm says its proposal has advantages for all concerned, not least being the employees who face an uncertain future.
"Apple Comm's point of difference is that it is a simple voice and broadband reseller with no expensive infrastructure. One.Tel was a profitable company when it was a simple reseller of Optus,"
The Sydney company says its strategic relationships include deals with Worldcom and Cable & Wireless Optus.
