Uniti Group Surges 15.8% as T-Mobile, TPG Eye Fiber Assets for Acquisition
NEW YORK, April 1 —
Uniti Group Inc. (UNIT) jumped 15.8% to $9.38 after reports that T-Mobile US and private equity firm TPG are evaluating its fiber network assets for a potential takeover.
- UNIT closed at $9.38, its third consecutive day of gains, on 15.8% volume-driven surge.
- Enterprise value sits at roughly $11.4bn against an EV/EBITDA multiple of 7.6x, with $10.7bn in long-term debt.
- Watch for: formal bid announcements, disclosed offer price per share, and whether T-Mobile and TPG pursue a joint or separate bid.
Why It Matters
The identities of the suitors matter as much as the interest itself. According to TMT Finance, T-Mobile is eyeing the Kinetic fiber-to-the-home business while TPG is focused on the enterprise segment. The two could also partner for a full acquisition of the company.
Uniti completed its merger with Windstream in August 2025, creating one of the largest independent fiber operators in the U.S. with pro forma revenue of $3.79bn and adjusted EBITDA of $1.54bn. The combined entity gave up its REIT status and suspended common stock dividends to prioritize deleveraging its $10.7bn debt load.
Management has already flagged $500mn–$1bn in non-core asset sales to reduce leverage and boost EBITDA by up to $100mn. A full takeout by deep-pocketed buyers would accelerate that balance-sheet cleanup and potentially deliver a premium above the current $11.4bn enterprise value. For shareholders who rode through the Windstream integration, competitive bidding between a strategic acquirer and a financial sponsor is the best-case catalyst.
The Risk
No formal sale process has begun, and Uniti has only said it is open to reviewing interest from several parties. Early-stage talks fail routinely — particularly when the target carries $10.7bn in debt that any acquirer must refinance or absorb. If neither T-Mobile nor TPG tables a binding offer, the stock could retrace toward pre-report levels, and 7.6x EV/EBITDA leaves thin margin for error on a standalone basis.
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