iiNet founder and former CEO, Michael Malone, has been appointed to the board of the National Broadband Network (nbn) as a non-executive director to replace Simon Hackett who has left the board after two years and a half years in the role.
iiNet shareholders have voted overwhelmingly for the company’s $1.6 billion takeover by TPG. It will all be done within six weeks.
As he fights against TPG’s takeover of iiNet, the company he founded, Michael Malone has predicted that is only the first step in a wider industry consolidation, tipping that Vodafone Hutchison Australia will be next to be swallowed.
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