iiNet chairman Michael Smith has arranged a hastily convened call with investors on Monday, in response to investor criticism the board has sold the telco company too cheaply in its $1.4 billion deal with David Teoh’s TPG Telecom.
The company has also scheduled meetings with individual investors in the coming days.
iiNet has not held a briefing since the deal with TPG was announced, when TPG’s market capitalisation rose by more than $1 billion, a move that some investors argue proves the company is underpaying for iiNet.
“I believe it’s late to try and defend something that clearly isn’t the best deal for shareholders,” BT Investment Management’s head of smaller company Paul Hannan said. BT owns more than 5 per cent of iiNet.
Full Content: Yahoo! News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI