Sydney-based telco PowerTel is to take a 14.9 per cent in iiNet as the Western Australian ISP is expected to return to trading on Monday with a revised earnings outlook of $24.6 million for the full year, before abnormal items.
iiNet has confirmed to the market its continued suspension from trading on the Australian Stock Exchange, now into its fourth week, with no immediate knowledge of when it will resume trading.
iiNet today confirmed to the market its continued suspension from trading on the Australian Stock Exchange - now into week four - with no immediate knowledge of when trading will resume. It also made some executive and consulting appointments.
Perth ISP iiNet today revealed accounting and forecasting errors will significantly impact its 2005-06 results, the first hint of explanation for the trading halt announced almost two weeks ago which remains in force.
Australia's third largest Internet Service Provider, Perth-based iiNet Ltd, has announced a $15 million investment in its next generation ADSL2+ network, which will increase coverage to 90 per cent of metropolitan Australia.
His role as an WA tech leader was well-known when Michael Malone was last night crowned 40under40 1st Amongst Equals, but when he graduated from university in the early 1990s few knew anything about the internet.
Shares in Perth ISP iiNet Ltd closed more than 5 per cent lower, rebounding from early fall of 10 per cent as the market responded to its half year net profit of $1.3 million, released after the market's close on Friday.
Shares in Perth ISP iiNet Ltd dropped almost 10 per cent after the market digested a subdued profit forecast and new uncertainty regarding Telstra's network access.
Shares in Perth-based ISP jumped almost 9 per cent today following yesterday's announcement that the Federal Government would not relax regulation of Telstra's network.
iiNet Ltd CEO and founder Michael Malone has welcomed a federal government decision to not provide a "regulatory holiday" for Telstra's proposed fibre network.
Perth-based national ISP player iiNet has signed up 10,000 subscribers to its fledgling VoIP (voice over internet protocol) service, which it launched three months ago with claims it would be the new wave of business.
PERTH-BASED internet service provider and junior telco iiNet has signed an agreement to acquire the internet service component of Melbourne-based Virtual Communities Limited.
3,058,248 quoted securities subject to voluntary escrow will be released seven days after the release to the ASX of iiNet's full year result to June 30.
