AT&T Closes Acquisition of Lumen's Mass Markets Fiber Business
Key Highlights
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AT&T completed its previously announced acquisition of substantially all of Lumen’s Mass Markets fiber business for $5.75 billion in an all-cash transaction, subject to customary adjustments.
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The acquisition adds more than 1 million fiber subscribers to AT&T’s customer base.
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AT&T expands its fiber footprint across 32 states through the transaction.
AT&T has completed its previously announced acquisition of substantially all of Lumen’s Mass Markets fiber business for $5.75 billion in an all-cash transaction, subject to customary closing adjustments.
The transaction expands AT&T’s fiber footprint across 32 states and adds more than 1 million fiber subscribers to the company’s customer base. AT&T expects to increase fiber penetration within the acquired footprint over time by leveraging its existing distribution capabilities and service offerings.
As part of the acquisition, AT&T gains more than 4 million fiber-enabled customer locations across 11 states, as well as access to Lumen’s fiber construction operations in those markets. This is expected to support an accelerated pace of fiber deployment outside AT&T’s traditional wireline operating areas and contribute to the company’s goal of reaching more than 60 million total fiber locations by the end of 2030.
The transaction also enables AT&T to expand its ability to offer bundled fiber broadband and 5G wireless services within the acquired footprint, supporting the company’s strategy to grow converged customer relationships.
Source: AT&T
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