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iiNet has completed the $60 million acquisition of Adam Internet.
iiNet has entered into an agreement to acquire Adam Internet for $60 million in cash following Telstra's announcement that it had not received approval from the competition regulator in time for its planned acquisition of the independent ISP to go ahead.
The Australian Competition and Consumer Commission (ACCC) has released a statement of issues paper seeking industry comment on Telstra’s proposed acquisition of Adam Internet.
Telstra rivals have condemned the Australian telecom giant’s proposed acquisition of Adam Internet as a move that will reduce telecom competition.
Adam Internet resisted acquisition offers for nearly a decade before agreeing to a deal from Telstra, Adam Internet executive chairman, Greg Hicks, said on a conference call this morning with reporters.
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