It’s our highest conviction call in the portfolio at the moment with an 8% weighting. Aussie Broadband has been busy, wrapping up the takeover of peer Over The Wire (OTW) recently. The deal was a key reason for our level of conviction with solid metrics around synergies and cross-sell opportunities – shares have been strong despite likely seeing natural selling from old OTW shareholders. Looking forward though, ABB will need to be on the ball to execute on the forecasts its given. Origin Energy (ORG) may yet still throw a spanner in the works. In their recent investor day they declared a 600k target for broadband subs by FY26, currently sitting around 50k. Origin white label Aussie Broadband’s product which potentially makes them a takeover target, or at the very least a beneficiary of Origin’s ramp up.
MM remains bullish ABB
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