AT&T strikes $5.75 billion deal with Colorado telecom
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AT&T strikes $5.75 billion deal with Colorado telecom
Lumen Technologies, a Denver-area telecommunications giant, is selling its consumer fiber-optic-to-the-home business in 11 states to AT&T. The transaction is expected to close in the first half of next
DENVER — Lumen Technologies, a Denver-area telecommunications giant, is selling its consumer fiber-optic-to-the-home business in 11 states to AT&T for $5.75 billion in cash.
Dallas-based AT&T (NYSE: T), after the transaction, will own roughly 95% of Quantum Fiber, an all-fiber residential internet service with almost 1 million subscribers that generates about $750 million in revenue annually, Lumen said.
The transaction is expected to close in the first half of next year.
Source: https://www.9news.com/article/money/att-strikes-deal-with-colorado-telecom/73-b932c2c9-2b25-4bc4-b43f-7bf8235a223b