Australia's Swoop hits nearly 2-month high on Flip TV deal

Swoop Holdings

06/01/2025 24:04

** Swoop  SWP.AX  rises 11.8% to A$0.19; set for biggest
intraday pct gain since Nov. 11, 2024
    ** Telecom co signs agreement to provide wholesale internet
services to Internet TV provider Flip TV
    ** Says three-year pact entails transfer of Flip's 26,000
broadband consumers to internet service provider's network
    ** Expects deal to bring in more than A$10 mln ($6.2 mln) in
rev annually starting January
    ** Stock hits its highest level since Dec. 10
    ** SWP lost 30% last year

($1 = A$1.6085)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))