Australia's Swoop Holdings rises on deal to buy dark fibre network

Swoop Holdings

11/01/2022 02:16

** Shares of Swoop Holdings Ltd  SWP.AX  rises as much as
2.8% to A$1.655, their biggest intraday pct gain since Jan 4
    ** The telecom service provider says that it has agreed to
buy dark fibre network assets and customers of iFibre Pty Ltd
 urn:newsml:reuters.com:*:nFWN2TQ1SR
    ** Adds that it will buy assets and customers of iFibre for
A$1.5 mln ($1.08 mln) in cash deal, funded from existing
resreves
    ** Says that assets consist of 34km of fibre in the Adelaide
city centre and outer metro areas, connecting key data centres
and commercial buildings    
    ** Stock has risen 43.2% in 2021, since its debut in May  


($1 = 1.3935 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))