Shares in Perth-based Amcom Telecommunications Ltd surged 28 per cent after it emerged as a big buyer of iiNet Ltd stock, taking 19.97 per cent of the ISP with funding from Futuris Corp Ltd.

Shares in Perth-based Amcom Telecommunications Ltd surged 28 per cent after it emerged as a big buyer of iiNet Ltd stock, taking 19.97 per cent of the ISP with funding from Futuris Corp Ltd.