Alternative Australian broadband provider iiNet has reportedly entered the final stages of a deal which will see it spend up to AUD80 million (USD 81.5 million) to acquire Canberra-based telco TransACT, The Australian reports. It is understood that the purchase, which will cost iiNet between AUD60 million and AUD80 million, will shore up its position as the country’s third largest internet service provider (ISP) behind incumbent Telstra and second-placed SingTel Optus, while the deal would also launch iiNet into the government and corporate services sector. According to the report, financial terms have been agreed for the acquisition, and iiNet is now thought to be completing due diligence.
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OVETEL iiNet set to complete TransACT purchase?
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