Business
Why the Uniti (ASX:UWL) share price is on watch today
The Uniti Group Ltd (ASX: UWL) share price remains in a temporary trading halt this morning. This follows the company’s announcement it has acquired select fibre-to-the-premises (FTTP) assets owned by Telstra Corporation Ltd (ASX: TLS). The Uniti share price was trading at $1.48 at market close yesterday.
What’s the deal?
In an ASX announcement this morning, Uniti revealed it has entered into a binding agreement to acquire Telstra’s FTTP assets, which provide high speed broadband to the Telstra Velocity estates and South Brisbane Exchange regions (Velocity).
The company said Telstra would become a retail service provider (RSP) of its FTTP business. Following on Uniti’s recent acquisition of OptiComm Ltd, this segment of…
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