One.Tel shareholders James Packer and Lachlan Murdoch, two of Australia's wealthiest men, are angry at being misled about One.Tel's cash position in the wake of an administrator being appointed to the ailing telco. ASIC has now launched an investigation.
The UK operations of struggling telco One.Tel could be set to break away from its parent company in Australia.
The administrators of One.Tel have said that the high-profile directors of the failed Australian telco may have adequate defence to any insolvent trading claims.
A big global fund manager has said that Lachlan Murdoch's role in failed Australian phone group One.Tel had raised questions about his fitness for the top job one day at News Corp.
Packer-Murdoch venture One.Tel could become one of Australia’s least scrutinused telcos by the end of the year, according to the Australian Competition and Consumer Commission.
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