Mobile carrier Vodafone has bought the ihug-branded New Zealand business of telco iiNet for AU$36 million.
Troubled telco iiNet has started looking for a buyer for its iHug-branded New Zealand business.
The managing director of business and wholesale telco PowerTel, Paul Broad, has been appointed as a non-executive director of troubled retail telco iiNet.
Telco iiNet's finances have taken a hammering as the company announced its earnings before interest, tax, depreciation and amortisation (EBITDA) to the year ending 30 June would be 39 percent lower than previously expected.
Will iiNet be able to continue its strategy of leveraging technological leadership now that its financial dirty laundry has been so publicly aired?
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