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Uniti Group (NASDAQ: UNIT) 42% well in pre-market trading following its main customer, Windstream (NASDAQ: WIN), losing its case in the event of default of payment of the debt against Aurelius Capital Management.
The decision, announced on Friday, February 15, concerns Windstream's split in 2015 of certain telecommunication network assets in Uniti and Windstream's agreements with bond creditors.
Uniti was not a party to the dispute.
"The decision did not affect the validity of our main lease with Windstream, and access to our network remains critical to Windstream's business and ability to serve its customers." "said Kenny Gunderman, President and CEO of Uniti.
Uniti understands that Windstream plans to take action and look for all available options, says Gunderman.
Previously: what is the next step for Windstream after a trial loss in case of debt default? (February 16)
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