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3h ago

AT&T Acquires Lumen’s Consumer Fiber Business for $5.75 Billion

The deal expands AT&T's fiber network with one million new customers, while Lumen refocuses on enterprise services and debt reduction.

Steve Smith, of CenturyLink, works on a residential fiber install at a home in Highlands neighborhood on December 23, 2019 in Denver, Colorado. CenturyLink's fiber network, along with the related company Quantum Fiber, are being purchased by AT&T for $5.75 billion. (Photo by RJ Sangosti/The Denver Post)
An AT&T logo is pictured in Pasadena, California, U.S., January 24, 2018. REUTERS/Mario Anzuoni

Overview

  • AT&T will acquire Lumen Technologies' consumer fiber operations, adding one million residential customers across eight major U.S. metro areas.
  • The $5.75 billion cash transaction will significantly expand AT&T's fiber network in cities including Denver, Las Vegas, and Seattle.
  • Lumen plans to use $4.8 billion of the proceeds to reduce its debt and cut annual interest costs by over $300 million.
  • The sale enables Lumen to concentrate on its enterprise fiber business and invest in low-latency technology to support AI workflows.
  • AT&T will consolidate the acquired assets into a new subsidiary, with plans to sell a minority stake after the transaction closes in the first half of 2026.