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September 2020 quarter saw another strong performance by Uniti in terms of Net Operating Cash Flow and Free Cash Flow, reflected in growing cash reserves (excluding rights issue proceeds). This continued operating performance improvement is a direct result of organic growth being delivered across the Uniti Group as a whole, stringent cash disciplines and an ongoing focus on extracting operating efficiencies. There have been notable developments in respect of Uniti’s proposed acquisition of OptiComm during the September quarter (and also during the month of October), due to the competitive situation which has arisen with another prospective acquirer. Uniti’s most recent ASX announcement on this matter on 15 October 2020 (OptiComm Acquisition – Superior Proposal) provides detail of the current status of this transaction. The Board would like to make clear to our fellow shareholders that whilst we remain focused on acquiring OptiComm, in light of it being a highly accretive and strategic acquisition, we remain disciplined and measured, as we have proven in all past acquisitions. Uniti has proven to be able to acquire and integrate quickly and effectively to generate material accretion for shareholders as evidenced by the returns now being delivered to shareholders from the W&I business, where we acquired businesses at greater than 14 times historical EBITDA which are now delivering EBITDA representing a 5.4 times multiple of aggregate acquisition consideration. This has been achieved in less than 12 months.
September 2020 quarter saw another strong performance by Uniti in terms of Net Operating Cash Flow and Free Cash Flow, reflected in growing cash reserves (excluding rights issue proceeds). This continued operating performance improvement is a direct result of organic growth being delivered across the Uniti Group as a whole, stringent cash disciplines and an ongoing focus on extracting operating efficiencies.
There have been notable developments in respect of Uniti’s proposed acquisition of OptiComm during the September quarter (and also during the month of October), due to the competitive situation which has arisen with another prospective acquirer. Uniti’s most recent ASX announcement on this matter on 15 October 2020 (OptiComm Acquisition – Superior Proposal) provides detail of the current status of this transaction.
The Board would like to make clear to our fellow shareholders that whilst we remain focused on acquiring OptiComm, in light of it being a highly accretive and strategic acquisition, we remain disciplined and measured, as we have proven in all past acquisitions. Uniti has proven to be able to acquire and integrate quickly and effectively to generate material accretion for shareholders as evidenced by the returns now being delivered to shareholders from the W&I business, where we acquired businesses at greater than 14 times historical EBITDA which are now delivering EBITDA representing a 5.4 times multiple of aggregate acquisition consideration. This has been achieved in less than 12 months.
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