iiNet sells fibre network to NBN

iiNet has reached an agreement to sell its TransACT fibre-to-the-premises (FTTP) network to NBN Co for $9 million.

The TransACT network covers approximately 8,500 premises with a further 4,500 premises planned or already under construction.

 Further payments will be made to iiNet as its network connects to, or passes, the extra houses.

TransACT will continue to complete construction of pit-and-pipe infrastructure in some estates where agreements are in place until 2017.

The agreement provides NBN Co with access to additional underground duct infrastructure in the ACT.

iiNet chief executive Michael Malone said the deal was a positive for iiNet and TransACT customers.

“The agreement means that TransACT’s FTTP customers will soon be able to experience the benefits that come from being on the NBN,” he said.

“We’ll be communicating with our FTTP customers throughout the process to ensure a smooth transition over the next 12 months.”