Trading halt in iiNet shares

Trading halt in iiNet shares

Follows speculation the ISP is bidding for telco, TransACT

Trading in shares of Perth-based internet service provider iiNet (ASX:IIN) has been halted at the request of the ISP.

The company sought the trading halt pending its response to an article in The Australian Financial Review of November 16.

The article claims that iiNet in final negotiations to purchase Canberra-based telecommunications firm, TransACT.

The telco is allegedly the first in Australia to build a dedicated G.984 (GPON) based FTTH or FTTP gateway and the first ISP to offer broadband services at up to 100Mbps download and 20Mbps upload.

The trading halt is expected to be lifted by commencement of tadeing on November 18.

In late June, TransACT became the 14th ISP to join the National Broadband Network (NBN) mainland trials.

It joined 13 other companies| participating in the trial including AAPT, AARNet, Exetel, Internode, Optus, Telstra, iPrimus and most recently, Vodafone Hutchison Australia (VHA).

TransACT is an old hand at fibre networks, having supplied fibre-to-the-curb and fibre-to-the-premise (FTTP) services to brownfield and greenfield sites, respectively.

“We have been delivering FTTP voice, video and ISP solutions since 2007 so we are well suited to being an [ISP] on the NBN,” TransACT CEO, Ivan Slavich, said at the time.

“As an ISP on the NBN we will continue to deliver superior products and services to our customers, complementary to our existing networks in the ACT and regional Victoria."

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Tags ISPTelcoiiNetTelecommunicationsTransAct


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