Australia's Superloop gains on subscriber transfer deal

Superloop

23/12/2022 04:43

(Updates daily and weekly moves)
    ** Shares of fibre network operator Superloop Ltd  SLC.AX 
rise as much as 10.3% to A$0.750 — set for their best day since
Oct. 11
        ** Co says to acquire about all of MyRepublic Pty's
52,000 National Broadband Network subscribers at A$250  per sub,
for total consideration of A$13 mln ($8.68 mln), if all
potential subscribers migrate
   ** Says acquisition is expected to add A$6.5 mln of EBITDA to
co in the first year on post-synergy basis
    ** SLC touches its highest level since Dec 1
        ** Shares have jumped ~8% this week, set for best week
since Oct. 14
  
    ** Stock is down ~43% YTD, as of last close
($1 = 1.4981 Australian dollars)
 (Reporting by Ayushman Ojha and Echha Jain in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;
Echha.jain@thomsonreuters.com))