Uniti Group Inc. Completes Sale of U.S. Tower Business
Uniti has successfully completed the sale of 90% of its U.S. tower business to Melody Investment Advisors for approximately $220 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Uniti has successfully completed the sale of 90% of its U.S. tower business to Melody Investment Advisors for approximately $220 million. This strategic move allows Uniti to retain a 10% investment interest in the tower operations. The transaction was facilitated by Goldman Sachs, serving as the exclusive financial advisor to Uniti. As of March 31, 2020, Uniti operates over 6.3 million fiber strand miles across the United States, emphasizing its role in the communications infrastructure sector.
Positive
- Sale of 90% of tower business for approximately $220 million providing liquidity.
- Retention of 10% interest in the tower business allowing continued participation in growth.
Negative
- None.
Details
News Market Reaction – UNIT
The recorded move for UNIT in the trading session of this news was +0.69%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LITTLE ROCK, Ark., June 02, 2020 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has completed the sale of
Goldman Sachs & Co. LLC served as exclusive financial advisor to Uniti in connection with this transaction.
ABOUT UNITI
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of March 31, 2020, Uniti owns 6.3 million fiber strand miles and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.
INVESTOR AND MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866
Executive Vice President, Chief Financial Officer & Treasurer
mark.wallace@uniti.com
Bill DiTullio, 501-850-0872
Vice President, Finance and Investor Relations
bill.ditullio@uniti.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.