Dallas-based AT&T is in talks to buy the unit from Monroe, Louisiana-based Lumen, Bloomberg reported March 25.
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The next acquisition for AT&T Inc. could be the consumer fiber operations of Lumen Technologies Inc.
Dallas-based AT&T (NYSE: T) is in talks to buy the unit from Monroe, Louisiana-based Lumen (NYSE: LUMN), Bloomberg reported March 25 based on anonymous sources with knowledge of the deal. Both companies declined to comment to the media outlet and it’s possible a deal does not come to fruition.
But if it does, with a reported price tag of more than $5.5 billion, it would be another major investment in telecommunications infrastructure for AT&T, furthering the company’s returned focus in that realm.
AT&T has been pumping billions into telecoms basics like fiber and wireless in the wake of exiting high-profile but costly experiments in media and entertainment. The company spun off WarnerMedia in 2022 and last year sold its remaining stake in DirecTV.
Read more about the proposed deal here.
