Telstra Corporation Limited’s
(ASX:TLS) push to acquire budget broadband service provider Adam Internet could be short lived, as the telco’s rivals urge the Australian Competition and Consumer Commission (ACCC) to block the deal.
The competition regulator is expected to announce whether it will green light the deal today.
Media reports suggest iiNet Limited
(ASX:IIN) Vodafone and Macquarie Telecom Group Limited
(ASX:MAQ) claim the transaction would lead to a lessening of competition in both retail and wholesale markets.
Telstra recently said the acquisition of the South Australian based company would increase its market share and is rumoured to have spent up to $60 million for the low cost internet provider.
Telstra generated a net profit of $3.4 billion in fiscal 2012.
