Internet company eisa looks set to capture the hotly contended consumer business arm of OzEmail in a deal which is expected to be detailed today.
Shares in eisa were suspended from trading early Friday afternoon pending an announcement to the Australia Stock Exchange.
Swooping in to steal the ISP from under Telstra's nose, eisa is believed to be paying between $250 million and $350 million for the business.
Telstra's $300 million bid for OzEmail, announced in early January turned sour following the Australia Competition and Consumer Commission (ACCC)'s "unfavourable view" of the merger.
OzEmail is Australia's second largest ISP, with an estimated 350,000 subscribers.