Aussie Broadband has taken rival internet broadband provider Superloop to court, claiming an “oppressive” order by the smaller company to slash its near 20 per cent stake could cost it $3.7 million in capital gains tax.

The telco is fighting to retain its 19.9 per cent stake in Superloop that it snapped up in late February, at a cost of about $92.8 million, before making a $466 million indicative takeover approach that was rejected by Superloop’s board.