Aussie Broadband slumps on termination of Origin white label deal

Aussie Broadband

14/03/2024 01:18

** Shares of Aussie Broadband  ABB.AX  slump 25.2% to
A$3.24, set for their worst day since May 2, 2022, if trend
holds
    ** Telecommunications firm says Origin Energy  ORG.AX  will
terminate the White Label wholesale agreement with ABB effective
April 12, 2024
    ** Says, co rejected Origin's most recent wholesale proposal
on March 7 as it did not consider it to be value accretive to
shareholders
    ** Says, the Origin White Label wholesale agreement is
expected to contribute an estimated A$14 mln EBITDA in FY24 
    ** Stock up 11% YTD as of last close 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))