DALLAS (dpa-AFX) - AT&T (T), Wednesday announced that it has agreed to acquire Lumen's Mass Markets fiber internet business for $5.75 billion in cash. The transaction adds roughly 1 million fiber subscribers and over 4 million fiber capable locations across 11 states to AT&T Fiber's network.
This acquisition accelerates AT&T's plan to reach about 60 million total fiber locations by year-end 2030, nearly doubling today's footprint. AT&T will house the acquired assets in a new subsidiary, 'NetworkCo,' and intends to invite an equity partner within 6-12 months post-close, positioning NetworkCo as a wholesale open-access platform.
The deal supports AT&T's strategy to boost U.S. connectivity, create jobs, and maintain its 2025 financial guidance and $10 billion share repurchase plan. Regulatory approval and customary conditions apply.
The deal is expected to close in the first half of 2026.
T closed Wednesday's trading at $27.47, down $0.31 or 1.12 percent on the New York Stock Exchange.
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