iiNet goes into trading halt

Precedes expected announcement around acquisition of Netspace

iiNet Ltd shares have gone into a trading halt as Australia's third biggest internet service provider prepares a response to a newspaper report saying the company is to buy a rival.

The shares will remain in a trading halt until March 15, or when the company makes an announcement, Perth-based iiNet said in a statement on Thursday.

iiNet was likely to announce within the next two or three weeks that it has agreed to buy rival internet provider Netspace for between $60 million and $75 million, the Australian Financial Review reported on Thursday.

More about: Australian Financial Review, Australian Financial Review, iiNet, Netspace

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