News location:

Canberra Today 12°/16° | Saturday, March 30, 2024 | Digital Edition | Crossword & Sudoku

Transact about to be sold

INTERNET service provider iiNet looks poised to buy ACT communication carrier TransACT.

When asked to confirm the impending sale by “CityNews”, the usually talkative TransACT CEO Ivan Slavich replied: “Every question you ask me will be answered with, ‘no comment’.”

Trading in iiNet shares has been suspended on the Australian stock exchange pending on “an announcement by the company”. The company says it will return to trading either after its unspecified announcement is made or on Friday.

The “Australian Financial Review” has reported that the TransACT is in “final negotiations” on a sale.

TransACT, established in 2000 as a fully integrated telecommunications and subscription TV operator, was the first to roll-out FTTP, deploy hybrid fibre-cable (HFC) in regional areas, offer video on demand, introduce Ethernet over cable and launch IPTV. In 2008, TransACT bought Victorian company Neighbourhood Cable.

iiNet is Australia’s second largest DSL internet service provider and was founded in a suburban garage in 1993. The company currently supports more than 1.3 million broadband, telephony and internet protocol TV services nationwide.

 

Who can be trusted?

In a world of spin and confusion, there’s never been a more important time to support independent journalism in Canberra.

If you trust our work online and want to enforce the power of independent voices, I invite you to make a small contribution.

Every dollar of support is invested back into our journalism to help keep citynews.com.au strong and free.

Become a supporter

Thank you,

Ian Meikle, editor

Share this

Leave a Reply

Related Posts

Follow us on Instagram @canberracitynews