Business
How a junior telco snookered a $130b super giant – The Australian Financial Review
Vaughan Bowen’s Uniti has delivered a revised bid for OptiComm that might just knock a rival bidder, the $130 billion super fund Aware Super, out of the race.
But Bowen and his long-time banker, Bank of Americas local boss Joe Fayyad, have come up with a crucial wrinkle by effectively convincing OptiComms institutional investors to throw their weight behind the Uniti offer.
Uniti has grabbed a 6 per cent stake in OptiComm and has a call option over another 13.5 per cent, giving it an effective blocking stake of 19.5 per cent.
Given management holds about 40 per cent of OptiComm, it will be hard for Aware to build a similar stake in the business.
Th…
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