Telstra's deal with Adam Internet falls through

The deal agreement lapsed following regulatory delay

Telstra will not be proceeding with the planned acquisition of South Australian based ISP, Adam Internet, according to a statement from Telstra.

The deal was announced in October last year and came under ACCC scrutiny after major telcos Vodafone Hutchinson Australia, iiNet and Macquarie Telecom struck out against the proposed deal urging ACCC to take action, ARN previously reported.

The proposed deal had a contractual end date of 30 June 2013.

In the statement, Telstra chief customer officer, Gordon Ballantyne, said the ACCC had raised a number of concerns with the acquisition, which Telstra had attempted to address, but in the end had not been able to secure approval from the ACCC by the contractual end date.

“We are very disappointed by this outcome. We believe this transaction would have provided real benefit to Australian consumers and would have added new competition into the broadband market,” Ballantyne said.

Adam Internet executive chairman, Greg Hicks, said it was “unfortunate the time frame could not be met.” “Adam Internet is disappointed this important condition precedent could not be achieved in a commercially acceptable time frame, and therefore we will no longer be proceeding,” Hicks said.

CHANNEL CHOICE: Vote Now for your favourite in the three categories: Vendor, Distributor and Reseller. Voting closes August 8.

Tags Adam InternetVodafoneACCCCtelecomiiNetTelstra

More about Adam InternetARNAustralian Competition and Consumer CommissioniiNetMacquarie TelecomTelstra Corporation LtdVodafone

ARN Directory | Distributors relevant to this article

Comments

Comments are now closed

 

Latest News

09:05AM
Australia gains early access to Microsoft's Cortana personal assistant
04:09PM
One in four channel partners offering deduplication: Kroll Ontrack
04:06PM
Acer appoints new Australian channel boss
03:16PM
Salesforce joins BSA
More News
05 Aug
Systems Technology Day - Build Your Own Private Cloud
06 Aug
Oracle Employee Experience Journey Mapping Workshops
20 Aug
Westcon Group Imagine 2014 - Melbourne
21 Aug
CAST 611 Advanced Penetration Testing
View all events