From Yahoo Finance: 2025-05-21 16:11:00

AT&T secures $5.75 billion deal to buy Lumen Technologies’ consumer fiber operations, gaining 1 million customers and expanding fiber network in key cities. Lumen’s shares up 13% post-announcement. Deal allows Lumen to focus on enterprise fiber business and invest in low-latency technology. Sale to trim Lumen’s debt by $4.8 billion and cut interest expenses by $300 million annually. Transaction expected to close in first half of 2026, with AT&T planning to sell minority stake in new subsidiary.

Read more: AT&T agrees to buy Lumen’s consumer fiber business for $5.75 billion