iiNet's AAPT Buy: Freedom From TCNZ Will Further Market ConsolidationJuly 2010 | M&A Analysis
iiNet, Australia's third largest fixed broadband operator, has acquired the consumer services division of AAPT from Telecom Corporation of New Zealand (TCNZ). At the same time, TCNZ has sold its remaining 18.2% stake in iiNet to the investment community. Besides catapulting iiNet to second place in the broadband market ahead of SingTel Optus, the transactions give iiNet greater freedom to secure financing and investment on the open market, useful at a time when the company is preparing to play a major part in Australia's nationwide broadband network.
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