disgrace, page-8

re: pressure a bit harsh azzumah - iinet have been doing what they can to get away from tls by installing their own dslams. fact is tls has a monopoly on copper and its a hideously expensive proposition to build your own last mile infrastructure. iiNet and the others rely on the ACCCs protection as opposed to TLS generosity.


Nonetheless a sticky situation. IIN has been trading at very high multiples based on presumed margin growth from its DSLAM installations. That now looks to be gone and I think a reversal still some time away. I don't hold either.