Aussie Broadband surges on 'highly attractive' AGL telecom deal

Aussie Broadband

11/02/2026 04:10

Updates

** Shares of Aussie Broadband ABB.AX rise as much as 19.9% to A$5.43 in early trade, biggest gain since late Aug 2025

** Stock hits highest level since Nov 18; among top gainers on broader benchmark .AXJO, which is up 1.6%

** Telecom firm agrees to buy telecom business of power producer AGL Energy AGL.AX

** Says consideration includes upfront payment of A$115 million ($81.31 million) in ABB shares

** Jefferies calls deal "highly attractive" with appealing customer acquisition costs, strong growth pipeline via AGL's bundled offering

** Says combined with last year's More deal, cements ABB as leading wholesale broadband provider, third-largest NBN service provider in Australia

**  YTD, ABB up 1.6% vs .AXJO's 3.4% rise

($1 = 1.4144 Australian dollars)

(Reporting by Shruti Agarwal and Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com; Shruti.Agarwal@thomsonreuters.com))