Why Brookfield Infrastructure Partners Stock Gained 10.7% in 2020
Shares of Brookfield Infrastructure Partners (NYSE: BIP) rallied 10.7% in 2020, according to data provided by S&P Global Market Intelligence. Much of those gains came in the latter part of the year, which is also when the company displayed visible signs of a recovery and set itself up for a strong 2021.
Excitement rang high among Brookfield investors as 2020 kicked off, with the company on the verge of acquiring Cincinnati Bell in a multi-billion dollar deal. The offer, however, fell through when Cincinnati decided to sell itself to Macquarie Group. Brookfield didn't find another opportunity this big in 2020, but it made some notable acquisitions nonetheless. One was an investment of $600 million on 135,000 telecom towers from India's largest conglomerate later in the year. The deal reaffirmed Brookfield's hunger for growth in data infrastructure even as it proved its resiliency in a challenging year.
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Source Fool.com