Speculation about a deal that could see national broadband provider iiNet pick up a chunk of embattled Telecom New Zealand subsidiary AAPT is likely to rapidly intensify this morning with the news iiNet has halted trading of its shares.
Pipe Networks shareholders have voted in favour of a $373 million acquisition by TPG Telecom.
The mandatory Internet filtering scheme could sway votes against the Rudd Government when the IT industry hits the polling booths at the Federal election.
TPG Telecom has completed an institutional placement to raise $65 million through the issue of around 41 million new ordinary shares at $1.585 – a 5.4 per cent discount to the last closing price.
TPG Telecom (ASX:TPM) has secured the money it needs to go ahead with its merger with Pipe Networks (ASX: PWK).