Iinet to buy AAPT's retail business - report

Australian ISP iiNet is thought to be the preferred buyer of AAPT's retail unit, after rival TPG Telecom failed to acquire the whole business. Iinet entered a trading halt on 29 June as it is preparing an announcement. Telecom New Zealand has been hoping to sell the whole Australian unit in a AUD 300 million-plus deal, but has decided to split the business in a wholesale and retail unit instead. Telecom could hold on to the wholesale unit for a possible sell off into the national broadband network, the Australian reports. Iinet did not comment.