Rants, Raves, Reviews


iiNet in the p__h?

By Gary R, in , posted: 26-Apr-2006 14:37

iiNet suspended their shares last Thursday. For those who don't know iiNet owns ihug. Speculation is rife that iiNet are in trouble and could be trying to refinance. Westpac has possibly called in the $70m debt. Apparently Telstra have shafted iiNet on the wholesale side of things so margins are getting squeezed with the iiNet share price dropping from $2.50 to $1.50 as a result.

I wonder if Mark Rushworth (ihug) still has the $20M in cash laying around that he was going to use to buy DSLAMS if the NZ government ULL?



Other related posts:
The Butler and Butler 5 Point Plan
National to invest in broadband
We Blew our cap again




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Comment by Peter, on 26-Apr-2006 16:55

It's far more likely to be M&A related than financial troubles IMHO. iiNet's DSLAMs give it a far better financial outlook than the rest of the ISP market in Australia who have to buy expensive ADSL ports from Telstra but who have to try and compete on price or service with ISPs that have their own infrastructure and use Spectrum Sharing (or in a few isolated cases, ULL) to deliver a better service. If a major ISP in oz were about to go bankrupt, iiNet would not be anywhere near the top of the list.


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Gary R
Wellington
New Zealand


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