eagle - I dont believe so. From memory AMM bought into IIN at...

eagle - I dont believe so. From memory AMM bought into IIN at the time IIN was going through it's scandal and the shareprice took a hit. Lots of rumours of potential takeovers etc - AMM raised money through futuris (which at the time was looking to increase it's stake in AMM but later exited the telco space) to buy just under 20% of IIN on market.

IIN set up a partnership with PowerTel at the time - and had an agreement in place to use their backbone in the east coast, and AMM popped up and protected their interests on the west coast where IIN use their backbone.

That's how I remember it at least. Not sure how the situation has changed since then, but at the time I read the whole scenario as a strategic investment in IIN with the potential view to do a hostile takeover that never ended up occurring.

I was working for AMM at the time - but no longer do so can't speculate on the current situation, only provide hazy commentary on historic :) Do some reading tho - lots of articles abound on the topic.