The up and coming telecommunications company has been on the MM hitlist for the Emerging Companies Portfolio for a while now. There’s been plenty of news in the last few months starting off with a capital raise with funds to be used in upcoming acquisitions. Raising a little over $120m, news leaked that they were looking at Brisbane based telco Over The Wire (OTW) in a cash and scrip offer. The deal would be a key win for Aussie Broadband giving them a far more significant footprint in the market with plenty of synergies to go with it. At the AGM 3 weeks ago, management said talks were still progressing. Business is still kicking goals anyways, and they’re now cashed up and ready to pounce. The stock has been in a bit of a holding pattern since the raise, we suspect the next decent move will be to the upside.
MM is bullish ABB
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