New Street: AMX (Neutral, TP: $18.5, -3%) AMX - down to Neutral Tower Spin details - Supportive, but not Incremental
AMX released a 6K in the last couple of days providing a little more colour around the upcoming Tower spin. Along with the Tracfone sale we have seen this event as a positive catalyst accelerating cash returns but, while disclosure here is broadly supportive (if anything the asset looks to be a touch smaller than we envisaged) there is nothing particularly incremental.
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