Its also buried in this presentation at the UBS Small Cap Telco Conference.
The preso mentions a figure of 20% of the broadband market. Curious to know whether this means regional customers make up 20% of iiNet's customer base, or 20% of the overall market, or both? The former would lead to some concern about the impact on profitability of those customers, especially as a sizeable chunk of their userbase. Given that iiNet aren't stupid I suspect its more of the latter though, nicely overstated for political effect. Either way it should be interesting to see if the mainstream media picks this up over the next few days, and what effect it has on the already soft share price. Its been pretty stagnant around the $2.70-$2.80 mark despite UBS setting a price target of $4.15