iiNet takeover facing opposition

[1] The planned takeover of iiNet by TPG is facing opposition from staff and investors.

[2] iiNet management has refuted claims that the $1.4 billion takeover will hurt customers and staff, terming the move as “in the best interest of shareholders”.

[3] A strong opposer is the company’s founder and former chief executive Michael Malone, who still remains a shareholder, terming the way customers and staff have been provided with information as inappropriate.

[Source] Australian Information Technology News – iiNet takeover facing opposition