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| Thread ID: 68367 | 2006-04-26 00:57:00 | News: Ihug could be in BIG trouble | stu161204 (123) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 449492 | 2006-04-26 00:57:00 | From: home.nzcity.co.nz Questions being raised about financial position of ihug's parent company in Aust 26 April 2006 Analysts hope there will be more news on a development which could impact on internet service provider ihug. The New Zealand company's Australian parent iiNet has suspended trading in its shares and will not comment on its future. Paul Brislen, editor of Computerworld Magazine, says iiNet's financial position with Westpac seems to be one of the big issue. It has borrowed $70 million from the bank over the years and Westpac may be reviewing the situation. He says there is also concern about someone trying to sell off a lot of iiNet shares at a low rate, just before trading halted. Mr Brislen says iiNet made its money in Australia by unbundling Telstra's network and ihug has been pushing for Telecom to release its monopoly. He says one scenario is that iiNet will find a buyer but that person may not want ihug. "I would hope that the Ihug management team here in New Zealand would put together a bid. It would be a dark day if ihug New Zealand closed its doors." Mr Brislen hopes there will be an announcement on iiNet's future soon. © 2006 NZCity, NewsTalkZB |
stu161204 (123) | ||
| 449493 | 2006-04-26 07:35:00 | i doubt very much that ihug nz would close its doors | Tux (606) | ||
| 449494 | 2006-04-28 10:36:00 | And I never thought that the Fletcher group would be dragged down either. Bad top-management can bring about any kind of disaster. :annoyed: | Bulwark (10170) | ||
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