<WIRE> Aussie Broadband (ASX:ABB) Stumbles on Termination of Origin White Label Deal

Aussie Broadband (ASX:ABB) shares plunged 25.2% to A$3.24, marking their worst performance since May 2, 2022, in light of a prevailing trend.

The telecommunications company announced that Origin Energy will cease the White Label wholesale agreement with the company, effective from April 12, 2024.

Aussie Broadband refused Origin’s latest wholesale proposal on March 7, deeming it to lack additional value for its shareholders.

The ongoing Origin White Label wholesale agreement is projected to contribute an estimated A$14 million in EBITDA for the financial year 2024.

Despite the recent downturn, the company experienced an 11% rise in stock since the beginning of the year up until the last closing.

Aussie Broadband is an Australian-based telecommunications service provider.

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