iiNet gets shareholder nod for AAPT consumer ops purchase

30 Sep 2010

Australian alternative broadband provider iiNet’s shareholders reportedly approved its acquisition of the consumer operations of AAPT yesterday, ZDNet Australia reports. Having first announced the AUD60 million (USD54 million) deal in July 2010, following the approval the transaction will be completed today. Commenting on the purchase, Michael Malone, iiNet’s CEO said: ‘iiNet will become the clear leading challenger brand in the Australian telecommunications market following the acquisition of AAPT’s Consumer Division … iiNet will have more than 1.3 million customer services, including in excess of 650,000 DSL subscribers, the second largest in Australia.’

For its part, Telecom New Zealand, AAPT’s parent company, said that the divestment of the consumer unit would allow it to focus on the wholesale and corporate sectors.

Australia, AAPT, iiNet (incl. Internode), Spark New Zealand Group