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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 ...

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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