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29/03/22

13:37

Post #: 60491946
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Originally posted by stealth10: ↑

Uniti best infrastructure asset: broker

CLIONA O'DOWD
Uniti Group is “the highest quality growth infrastructure asset in Australia right now” and more suitors are likely to emerge, resulting in a “bidding frenzy” for the ASX-listed company, Shaw & Partners broker James Nicolaou says.
In the wake of Uniti on Tuesday confirming it would engage with the Morrison & Co consortium over their $3.6bn takeover offer, Mr Nicolaou detailed the telco infrastructure group's competitive advantages, including that it is in an effective duopoly with NBN; is a well-run, structured business with strong free cash flow, and offers a high level of visibility through its infrastructure-based earnings.
“This is a quality business that deserves to trade on a premium and therefore will be taken over at a premium as there isn’t many, if any, other quality growth businesses with such a desirable investment proposition,” the broker says.
“This prey, UWL, is the highest quality growth infrastructure asset in Australia right now.”
The bidding war between Uniti and Aware Super for Opticomm showed the interest by an industry super fund in a key part of Uniti’s current business, he added.
“Aware Super showed a huge desire via that bidding war, that involved several bids and due diligence, that they want to own a quality long term annuity infrastructure business. They also have an intimate knowledge of the business from that last process.”

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So CLIONA O'DOWD says Uniti Group is “the highest quality growth infrastructure asset in Australia right now”.

If this is true then it is much better for shareholders to be holding this medium to long term. Hopefully the bidder goes away.

UWL Price at posting: $4.69 Sentiment: Hold Disclosure: Held
7 Upvote

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