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Australia's Uniti Group completes LBNCo acquisition

Uniti Group Ltd. closed the acquisition of LBNCo Holdings Pty. Ltd. and its subsidiaries in a cash-and-stock deal.

The Australian operator completed the issuance of about 9,384,755 fully paid ordinary shares, together with a net cash payment of about A$88.6 million, to settle the transaction.

Uniti Group reached a deal in August to fully acquire LBNCo, a builder and wholesale operator of private fiber networks. The company said it will continue pursuing acquisitions following the deal, in line with its growth strategy.

In June, Uniti Group, formerly Uniti Wireless Ltd., acquired communications platform-as-a-service providers Fone Dynamics Pty. Ltd. and Call Dynamics Pty. Ltd.