IINET has confirmed it is involved in early negotiations for the potential acquisition of rival ISP Netspace, among others, following the issuing of a trading halt on the Australian Securities Exchange today.
The Perth-based ISP responded to media speculation it was gearing up to acquire rival Netspace for up to $75 million, but said the figure was way off the mark.

"We advise that we have been in discussions with several parties including Netspace, and note that the price currently being discussed is a long way below the price range quoted in the media," iiNet company secretary David Buckingham told the Australian Securities Exchange today.

"However, the discussions are at an early stage and remain incomplete, and the iiNet board has taken no decision regarding the potential acquisition."

The trading halt will be lifted within two business days, or after an announcement is made. iiNet shares closed at $2.23 before the halt.

Read more here at The Australian IT

wooot, go team iinet!

man i wish had share in them

cool, hopefuly they'll become bigger than telstra/optus

And hopefully they smash the living s*** out of afact again

last edited by HerbalLizard at 13:30:07 11/Mar/10

yup, yup and yup.

Selling my iiNet shares was the second stupidest thing I did.

The first stupidest thing I did was sell my JB HiFi shares shortly after I bought a stack for around $3 a pop.

Being a netspace customer I am unsure if this is a good or bad thing :)

being that iinet is infinitely better than netspace, it's a good thing.

its a good thing

I've used iinet previously (over 6 years ago for ADSL) and they were rather pathetic back then. I consistently had connection problems and a couple of ISP's later I am now with Netspace on ADSL2+ who have been pretty damn good other than a few small issues.

tension u sucks

I just wish I could get iinet here at a decent speed. ISDN speed is probably about the best I can hope to get where I am (far from the exchange)

:(((((((((((((((((((((

AAPT own 18% of iiNet, so my own AAPT shares just got fatter!