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UPDATE 1-Takeover target OptiComm gets sweetened $489 mln offer from Aware Super

(Adds details of previous takeover offers, shares)

Oct 12 (Reuters) - OptiComm Ltd said on Monday that pension fund Aware Super raised its takeover offer to A$676.5 million ($488.70 million), sending its shares over 7% higher as the takeover battle heats up for the fibre infrastructure provider.

The A$6.5 per share offer represents a 9% premium to OptiComm’s last closing price and is around 11% higher than an already improved offer made by Uniti Group Ltd in September of A$5.85 per share.

Aware Super had last offered A$5.85 a share as well.

OptiComm said Uniti, which kicked off the battle in June, has three days to come up with a counter offer.

Shares of the fibre-optic communications equipment provider have climbed nearly a quarter from Uniti’s first offer, and are up as much as 7.4% in the first hour of Monday trade to A$6.4.

Uniti did not immediately respond to a Reuters request for comment. It is entitled to a A$6.1 million break fee if OptiComm decides to endorse Aware Super’s offer.

$1 = 1.3843 Australian dollars Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Himani Sarkar and Christopher Cushing

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