AT&T completes acquisition of Lumen Mass Markets’ fiber biz

AT&T has closed its $5.75 billion cash purchase of Lumen Technologies’ Mass Markets fiber business, adding more than 4 million customer locations and an estimated 1 million fiber subscribers across 11 states. The deal folds Lumen’s consumer fiber footprint into AT&T’s network, broadening the telecom’s reach and giving it a larger base to sell fixed broadband alongside its 5G wireless service.

AT&T says the acquisition supports its plan to reach more than 60 million fiber locations by the end of 2030 and to deepen fiber penetration in the newly acquired territory over time. The company argues that bundling fiber and wireless service should help it keep customers longer and improve returns, while noting that these expectations are subject to the usual market and execution risks.