AT&T is acquiring the consumer fiber assets of Lumen in an $5.75 billion deal. The company has a big opportunity to grow the penetration rate and bundle its wireless service. AT&T will offload some capital spending requirements by seeking an equity partner for the new assets.

Lumen Technologies, Inc. pivoted with a $5.75B asset sale to AT&T, debt reduction, better valuation, & AI-driven growth in fiber & cloud. Click for my LUMN update.

Lumen stock is trading lower Thursday after the company announced the sale of its consumer fiber-to-the-home business.

AT&T has agreed to acquire CenturyLink and Quantum Fiber's fiber internet business in 11 states, including Oregon, for $5.75 billion, and hopes to double its availability by the end of 2030.

AT&T's $5.75B acquisition of Lumen's Mass Markets fiber business accelerates its fiber growth strategy. Click here to find out why T stock is a Strong Buy.

Lumen Technologies, the Colorado internet giant better known by many as CenturyLink, is selling its residential business to AT&T. AT&T will gain 1 million internet customers from the $5.75 billion acquisition, the company said in a statement. It will expand its reach in metro areas in 11 states, including Denver, according to the statement.

Snowflake posts better-than-expected earnings and issues guidance ahead of analysts’ estimates, while shares of Lumen Technologies soar as AT&T will buy Lumen’s mass markets fiber business for $5.75 billion.

After the transaction, Dallas-based AT&T will own roughly 95% of Quantum Fiber, an all-fiber residential internet service.