International Public Partnerships writes down value of toob investment
(Alliance News) - International Public Partnerships Ltd on Monday said it will not be committing further capital to portfolio holding toob Ltd, a fibre-to-the-premises network operator.
The London-based global infrastructure investor said it will transfer its equity interest in toob, which has a carrying value on INPP books of GBP24.1 million, or 0.9% of its net asset value, to debt holders for a minimal amount.
On completion, INPP's remaining exposure in toob will be GBP2.6 million, being an investment ranking with senior debt funding.
As per the agreement with the debt holders, INPP will retain an entitlement to share in any future value realised upon a sale of toob, which operates across Southampton and parts of South England, covering 300,000 premises with over 140,000 customers.
INPP said its NAV per share guidance is unchanged, and is expected to be broadly in line or marginally higher as of June 30 when compared to the 151.5 pence reported at the end of 2025.
INPP previously had highlighted structural headwinds facing the UK's altnet market and the potential harm to toob's business.
The performance of INPP's other digital infrastructure investment, Community Fibre, which represented 1.0% of NAV as at December 31, continues to be in line with expectations, it said.
Shares in IPP were down 0.4% at 139.04p each in London on Monday.
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
5 Stocks to Sell for Tax-Loss Harvesting
The Smartest Moves for Bond Investors Today, and What to Do When You Have Too Many Investments
33 Undervalued Stocks to Buy Before the Market Shifts Again
Undervalued by 15%, This Utilities Stock Could Be an Unexpected AI Winner
United States