This has burnt a lot of investors in the past but this does seem like it could be a takeover target at some point given the defensive nature of the assets.

Having sold the HK assets and some Singapore assets for $140M with proceeds to be recieved soon. Expected to be $50M net cash following completion equating to an EV of about $400M. Guidance for $25M Underlying EBITDA (6.25% cash yield) this year which is only a partial year contribution from Exetel acqusition and synergies not fully realised. Increased utilisaiton of other cable assets. As a result can see it being attractive to some purchaser.

Superloop has sold the underpeforming Hong Kong connection for a sizeable premium to book and signed a right of use and will recieve and ongoing management fee. All up this is positive and shows managment taking the right steps for capital allocation.