Technology content trusted in North America and globally since 1999
8,515 Reviews & Articles | 65,788 News Posts

RumorTT: Telstra say TPG might buy out iiNet

RumorTT: TPG could buy out iiNet, would become second position among Australian ISP's

By Anthony Garreffa from Jan 15, 2012 @ 23:26 CST

Just after iiNet scooped up Internode, we now have a Telstra communication to their staff, where they seem to be informing their employees that TPG could buy iiNet, which would see TPG jump into second position among Australian ISP's.

rumortt_telstra_say_tpg_might_buy_out_iinet_07

TPG already owns 7-percent of iiNet, so if TPG were to takeover iiNet, it shouldn't be a surprise. The exact words from Telstra, as provided from Delimiter:

"iiNet's $105 million acquisition of Internode, announced just prior to Christmas, will see it gain 190,000 subscribers, and spearhead TPG Telecom into third place among broadband providers behind Telstra and Optus," the company's update read. "In recent months, TPG Telecom has been building a stake in iiNet, which, according to market speculation, could be a precursor to a full takeover."

You'll notice Telstra say it would put TPG into third place, but Delimiter's own calculations put TPG into second place, post-acquisition. iiNet CEO, Michael Malone, when speaking to Delimiter, said that any takeover would have a big enough impact on the industry that the ACCC would likely be involved.

NEWS SOURCES:Gizmodo.com.au

Related Tags

PRICING: You can find products similar to this one for sale below.

USUnited States: Find other tech and computer products like this over at Amazon.com

UKUnited Kingdom: Find other tech and computer products like this over at Amazon.co.uk

AUAustralia: Find other tech and computer products like this over at Amazon.com.au

CACanada: Find other tech and computer products like this over at Amazon.ca

DEDeutschland: Finde andere Technik- und Computerprodukte wie dieses auf Amazon.de