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LetterOne must unwind Upp Corporation buyout by L1T FM unit due to UK security concerns

( December 19, 2022, 18:46 GMT | Official Statement) -- MLex Summary: LetterOne Core Investments, beneficial owner of L1T FM Holdings UK, must unwind the company's buyout of fiber-optic network business Upp Corporation and sell it off over national-security concerns, the UK government's business department has said in a final order. The security concerns relate to LetterOne's ownership of Upp in the context of the target's "expanding full-fiber broadband network."Statement follows....

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