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Stock impact report

Former Thames Water owner Macquarie mulls sale of KCOM [Yahoo! Finance]

PJT Partners Inc. Class A (PJT) 
Last pjt partners inc. class a earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: Yahoo! Finance
Australian investment bank Macquarie has appointed advisers at PJT Partners to conduct a strategic review of KCOM. The review could lead to a sale of the telecoms firm or a merger with a rival network provider, though sources cautioned that no final decision had been taken. Hull is in the unique position of being the only UK city not served by BT's Openreach network after KCOM refused to merge with other regional providers during the formation of the former telecoms monopoly. Macquarie bought KCOM for £627m in 2019 after fending off a rival bid from pension fund Universities Superannuation Scheme (USS) in a fiercely-fought auction. It came at a time of rock-bottom interest rates and optimism about the long-term returns from broadband infrastructure. Analysts privately warned this week that the price tag was now likely to be much lower than the one paid by Macquarie. KCOM, which was founded in 1904 as Kingston Communications and is known for its distinctive cream-coloured te Show less Read more
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