Editing IiNet (section)

===Sale of ihug – New Zealand subsidiary===
On 20 July 2006 iiNet announced that they were wanting to sell their New Zealand subsidiary – ihug. Potential buyers included [[Orcon Internet]], [[Vodafone]] and [[TelstraClear]]. The sale to Vodafone NZ was announced on 9 October 2006, at a price of {{AUD|36 million}}<ref>{{cite web|url=http://www.iinet.net.au/about/investor/20060720_ihug_announcement.pdf|title=iiNet to sell New Zealand Business|author=iiNet Limited|year=2006|access-date=2008-09-09|url-status=dead|archive-url=https://web.archive.org/web/20080725095356/http://www.iinet.net.au/about/investor/20060720_ihug_announcement.pdf|archive-date=25 July 2008}}</ref> – roughly six times ihug's [[Earnings before interest and taxes|EBIT]] at the time.