financetom
Business
financetom
/
Business
/
AT&T agrees to buy Lumen's consumer fiber business for $5.75 billion in cash
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
AT&T agrees to buy Lumen's consumer fiber business for $5.75 billion in cash
May 26, 2025 11:58 AM

May 21 (Reuters) - AT&T ( T ) has clinched a deal to

acquire Lumen Technologies' ( LUMN ) consumer fiber operations

for $5.75 billion in cash, the companies said on Wednesday, as

the wireless provider adds further scale to its national fiber

footprint.

Buying the unit will gain AT&T ( T ) 1 million fiber customers, as

well as significantly expand its fiber-network operations in

Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix,

Portland, Salt Lake City and Seattle, according to an AT&T ( T )

statement.

The sale of its consumer fiber assets, first reported by

Reuters, allows Lumen to focus on growing the company's

enterprise fiber business, Chris Stansbury, Chief Financial

Officer of Lumen, told Reuters in an interview.

The cash proceeds from the sale will help Lumen trim its

debt pile by $4.8 billion and enhance cash flow by reducing

interest expenses by more than $300 million annually, according

to Stansbury.

(Reporting by Milana Vinn in New York)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Rapport Therapeutics Announces Planned $250 Million Share Offering
Rapport Therapeutics Announces Planned $250 Million Share Offering
Sep 8, 2025
04:22 PM EDT, 09/08/2025 (MT Newswires) -- Rapport Therapeutics ( RAPP ) said Monday it started an underwritten public offering of $250 million of shares, subject to market conditions. Underwriters will be given a 30-day option to buy up to an additional $37.5 million of shares, the company said. The company's shares were down 1.5% in recent after-hours activity. ...
PrairieSky Royalty Declares Quarterly Dividend
PrairieSky Royalty Declares Quarterly Dividend
Sep 8, 2025
04:22 PM EDT, 09/08/2025 (MT Newswires) -- PrairieSky Royalty ( PREKF ) , an oil and gas royalty company, on Monday said its Board of Directors declared a quarterly dividend of $0.26 per share, payable on October 15 to shareholders of record on September 29. The dividend has remained unchanged from the prior quarter and is an eligible dividend for...
Oxford Lane Capital Completes 1-for-5 Reverse Stock Split
Oxford Lane Capital Completes 1-for-5 Reverse Stock Split
Sep 8, 2025
04:22 PM EDT, 09/08/2025 (MT Newswires) -- Oxford Lane Capital ( OXLC ) completed its 1-for-5 reverse stock split. Split-adjusted trading began Monday, the company said in a statement. The September dividend was increased to $0.45 a share with October, November and December dividends raised to $0.40 a share. ...
Dianthus Therapeutics Launches $150 Million Public Offering
Dianthus Therapeutics Launches $150 Million Public Offering
Sep 8, 2025
04:21 PM EDT, 09/08/2025 (MT Newswires) -- Dianthus Therapeutics ( DNTH ) said late Monday it has launched an underwritten public offering of $150 million of its shares. The company said it will grant its underwriters, including Jefferies and TD Cowen, a 30-day option to buy up to an additional $22.5 million of its shares. Investors can also buy pre-funded...
Copyright 2023-2026 - www.financetom.com All Rights Reserved