TPG-iiNet Snatches Number Two in the Fixed Broadband Market
This IDC Flash provides an analysis of TPG's acquisition of iiNet, resulting in a firm that surpasses Optus to become the second largest Internet service provider in Australia. TPG is offering to acquire 100% of iiNet for AU$1.4 billion — a 31% premium above the last trading value before the announcement. The deal has not been finalised but has been recommended by the board of iiNet; the Australian Competition and Consumer Commission (ACCC) is not expected to impede the merger as the combined entity would trail Telstra in the broadband market, allowing for continued domestic competition.Please Note: Extended description available upon request.
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