Bloomberg News reported that AT&T is in advanced discussions to acquire Lumen Technologies' consumer fiber operations. This potential acquisition is estimated to be valued at $5.5 billion. The news caused Lumen's stock to plummet by 10% following the report.
This strategic move would significantly expand AT&T's fiber footprint and customer base, aligning with its core strategy to become a leading converged 5G and fiber connectivity provider. The acquisition would bolster AT&T's competitive position in the high-speed internet market. The talks indicate AT&T's continued aggressive investment in its fiber infrastructure.
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