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iiNet shares in trading halt

iiNet went into a trading halt yesterday following reports it was finalising the purchase of TransACT in Canberra. TransACT owns a hybrid-fibre network in ACT that services about 155,000 customers and 50 government departments and has revenues of about $100 million. It is privately owned by a conglomerate of power companies, investment and superannuation funds, and Prime Television. The trading halt is due to be lifted by tomorrow morning or when an announcement is made. iiNet shares were ...
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By InvestSMART · 17 Nov 2011
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InvestSMART
By InvestSMART ·
17 Nov 2011
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iiNet went into a trading halt yesterday following reports it was finalising the purchase of TransACT in Canberra. TransACT owns a hybrid-fibre network in ACT that services about 155,000 customers and 50 government departments and has revenues of about $100 million. It is privately owned by a conglomerate of power companies, investment and superannuation funds, and Prime Television. The trading halt is due to be lifted by tomorrow morning or when an announcement is made. iiNet shares were suspended at $2.36, 5? lower.
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Frequently Asked Questions about this Article…

iiNet went into a trading halt after reports said it was finalising the purchase of TransACT in Canberra, prompting the company to pause trading while the situation is clarified.

TransACT owns a hybrid-fibre network in the Australian Capital Territory (ACT), according to the article.

The article says TransACT services about 155,000 customers and supplies around 50 government departments.

TransACT has revenues of about $100 million and is privately owned by a conglomerate of power companies, investment and superannuation funds, and Prime Television.

The trading halt is due to be lifted by tomorrow morning or sooner when an announcement is made, per the article.

iiNet shares were suspended at $2.36, about 5% lower at the time of the halt, according to the report.

Investors should watch for the official announcement that will lift the trading halt, since the article notes the halt will end by tomorrow morning or when an announcement is made.

No — the article reports that iiNet was finalising the purchase according to reports, but it does not provide a confirmed or completed deal statement.