TPG’s proposed takeover of iiNet, which would create the third largest internet provider in Australia, has raised concerns that customer service will suffer.

On Monday, iiNet founder Michael Malone told the media that the deal was “appallingly silent” on the potential impact on internet customers.

“My family and I do not believe this deal as it is structured is in the best interests of shareholders, staff or customers,” he said.

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An unknown number of iiNet customers have reportedly expressed concern in online forums and on social media that TPG will erode its subsidiary’s strong record of customer service.

iiNet scored highly in a 2013 CHOICE magazine satisfaction survey, while TPG scored about half of iiNet’s score.

The company’s chairman Michael Smith has tried to hose down these concerns.

“TPG has offered a significant premium to iiNet’s market value to reflect the company’s high customer service levels, and the new owners would want that value to grow,” he said.

“TPG has paid a large premium to acquire that particular special value, they are not going to run it into the ground,” Mr Smith said, as reported on Zdnet.

The ACCC has approved the offer, which will need the support of 50 per cent of iiNet shareholders at a vote to be held in June.

iiNet has a total customer base of 950,000 according to its 2014 annual report with 1.8 million services.

TPG claims 748,000 broadband subscribers and 362,000 mobile phone accounts in its 2014 annual report, putting its total at 1.1 million.

Brands like Netspace, Internode, Jiva, Adam Internet, TransACT and Westnet are owned by iiNet and join TPG, which acquired corporate services and wholesaler AAPT in 2014.