By Roshan Fernandez
AT&T will buy substantially all of Lumen’s mass markets fiber business for $5.75 billion in a move it said will accelerate high-speed fiber internet access for millions of Americans.
The deal is expected to close in the first half of 2026.
Shares of Lumen Technologies rose 13% to $4.30 in Wednesday’s after-hours trading. The stock is down about 28% in the past year through Wednesday’s close. AT&T’s stock was flat post market.
AT&T said the acquisition will create jobs in metro areas across 11 states and improve critical connectivity infrastructure.
The transaction will allow AT&T to expand in areas including Denver, Las Vegas, Minneapolis-St. Paul, Phoenix, Salt Lake City and Seattle, among others.
The deal includes about 1 million Lumen fiber subscribers across more than 4 million locations, AT&T said. Those subscribers will transition to become AT&T Fiber customers.
AT&T now expects to reach 60 million total fiber locations by the end of 2030, roughly double the number of places it is available now.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
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May 21, 2025 17:57 ET (21:57 GMT)
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