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Posts Tagged ‘merger’
Featured, News, Telecommunications - Wednesday, November 30, 2011 20:53 - 32 Comments
TPG buys another stack of iiNet shares
news Serial acquirer TPG has significantly upped its stake in fellow national broadband provider iiNet, with the company now owning a total of 7.24 percent of Michael Malone’s baby.
TPG disclosed in mid-October this year that it had quietly bought about 4.4 percent of iiNet’s shares, a figure which it subsequently updated to 5.14 percent following the purchase of another parcel of stock. At the time, TPG said it had “no specific intention regarding iiNet” other than to own the shares as “a strategic investment”.
This afternoon, Delimiter received an anonymous tip to the effect that TPG had bought another parcel of iiNet shares. We were unable to immediately verify the information, with neither iiNet nor TPG commenting on the issue. However, late this afternoon TPG filed an updated statement (PDF) with the Australian Stock Exchange noting its stake had been upped to 7.24 percent of iiNet.
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