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Market Chatter: Ares Management to Take Control of UK Broadband Provider Toob

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Ares Management (ARES) is set to take control of UK broadband provider Toob and inject fresh equity into the struggling company backed by the UK's National Wealth Fund, Bloomberg reported Monday, citing people familiar with the situation.

Existing shareholders are expected to transfer their stakes to Ares, the report said.

Ares Management declined to comment to, and the National Wealth Fund did not immediately reply to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $141.17, Change: $-2.85, Percent Change: -1.98%

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