AT&T Buying Lumen's Consumer Fiber Business
AT&T reached an agreement with Lumen to buy substantially all the company’s mass markets fiber business for $5.75 billion in cash, AT&T said Wednesday. The business line has about 1 million fiber customers and reaches more than 4 million locations across 11 U.S. states, AT&T said. It said it hopes to close the deal in the second half of this year.
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“This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas,” said AT&T CEO John Stankey. “As we advance our fiber build, we’ll serve more communities with world-class connectivity and expect to roughly double where AT&T Fiber is available by the end of 2030.”
Last week, the FCC Wireline Bureau approved Verizon’s $20 billion buy of Frontier, also primarily a fiber deal (see 2505160024).