Windstream Mediation With Uniti Fiber Suspended; Litigation Pursued
Mediation talks between Uniti and client Windstream have broken down "indefinitely," Uniti told the SEC Tuesday. Windstream released "cleansing materials" acknowledging a mediator suspended negotiations after an impasse. Windstream sought the mediation this summer (see 1907220074) after it filed for…
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Chapter 11 (see 1902250058). "Until this matter is solved in a more formal (legal) way, we believe this will continue to be a large overhang" for Uniti, Wells Fargo analyst Jennifer Fritzsche told investors Tuesday. “We were unable to reach a satisfactory agreement with Uniti," said Windstream CEO Tony Thomas. "Now we are fully focused on pursuing our litigation claims to conclusion. Windstream will continue to serve our customers throughout the restructuring process and strategically invest to expand rural broadband access.”