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iiNet and TPG ISP merger approved by shareholders

Goliath just ate David

By Ben Gourlay from Jul 26, 2015 @ 22:32 CDT

Australian ISP giant TPG are today one step closer to succeeding in their controversial bid to takeover Australian ISP iiNet, after iiNet shareholders voted overwhelmingly to accept a revised $1.56B AUD offer.

iinet-tpg-isp-merger-approved-shareholders_01

According to the Australian Financial Review, 93% of shareholders voted in favour of the offer which would create the second biggest ISP in Austarlian, just behind Telstra Bigpond.

The next step in the bid is approval from Australian industry regulator ACCC, which the Financial Review specualate will be granted on August 20th.

NEWS SOURCES:Afr.com


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