Reportedly Windstream and Uniti are getting closer to a deal. See:
https://seekingalpha.com/instablog/200470-nils-de-graaf/5409643-windstream-uniti-propsal-not-too-bad
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So when does the leadership team aka LR5 share any of this information with employees?? Oh wait they won't. Nothing to see over here so sz TT. I would think they were on to us employees by now, we don't give a flying rats a$$ what they say at this point.
Here's an explanation of the current status of the Uniti talks. It's written from the point of view of a Uniti investor:
https://seekingalpha.com/article/4324960-windstream-uniti-settlement-better-expected
The "cleansing materials" that @1uji+13ypMeBx posted a link to contain 3 exhibits:
- The proposed Uniti settlement - not agreed upon but the parties are getting closer
- The senior secured lenders' proposal for reorganizing Windstream. (They hold the 1st lien)
- The junior secured lenders' proposal for reorganizing Windstream (They hold the 2nd lien)
It's not obvious at first from exhibit C who proposed it but it's on Houlihan & Lokey stationery; it turns out they're the investment bankers for the 2nd lien holders.
The reorganization plan as to who gets what is still not agreed upon but it looks like the general structure is - B and C look similar. The trick is how they'll fill in the blanks that are still in these.
Existing shareholders, as expected, are wiped out.
Based on this document it sounds like we are selling off some assets to UNIT.
http://www.kccllc.net/windstream/document/1922312200218000000000001
The LR5 and their friends and family at Uniti had this plan worked out years ago when they illegally split Uniti off from Windstream and moved all assets over. I have to imagine they have a card up their sleeve where they try to move all UCaaS & SD-WAN infrastructure over to Uniti and leave the creditors with the debacle of CLEC networks and the ILEC union to deal with. That would be some Danny Ocean sh– right there.
Uniti starts investing for the benefit of Win.
Windstream sells 740 million of assets to Uniti.
Dilution from Uniti's stock issuance will be limited.
Sound like some people might be moving under the Uniti umbrella
when everything is said and done.
Transfer of lease contracts - WE dark fiber will be sold off to UNITI
Issuance of Uniti shares -
Transfer of dark fiber and the termination of exclusivity -
Equipment loan -
Commitment to fund Growth Capital Improvements -
I would expect some major announcements this week before the earnings call on 20th.