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Tower owner Uniti (NASDAQ:UNIT) rose 5.5% in after hours trading on Friday amid a report that it’s in discussions to merge with telecommunications provider Windstream.
The companies are negotiating a stock-baded deal in which Uniti (UNIT) would remain publicly listed, according to a Bloomberg report on Friday, which cited people familiar with the matter. No agreement has been reached and discussions could end without a deal.
Uniti and Windstream representatives declined to comment to Bloomberg.
Uniti (UNIT), which was once part of Windstream, has a market cap of$1.2 billion.
Uniti (UNIT) is scheduled to report Q4 results on Feb. 29.