Summary
AT&T Inc. (T) has entered into a definitive agreement through its indirect wholly owned subsidiary, Forged Fiber 37, LLC ("NetworkCo"), to acquire substantially all of Lumen Technologies, Inc.'s mass markets fiber-to-the-premises network assets and related operations in ten U.S. states. This strategic acquisition, valued at $5.75 billion in cash subject to adjustments, significantly expands AT&T's fiber footprint and strengthens its position in the broadband market. The transaction is expected to close in the first half of 2026, contingent upon customary closing conditions, including regulatory approvals such as the Hart-Scott-Rodino Act, and the completion of Lumen's internal restructuring. The deal includes customary representations, warranties, and covenants, with AT&T securing representation and warranty insurance for certain risks. This move signals AT&T's continued investment in high-speed internet infrastructure.
Key Highlights
- 1AT&T to acquire Lumen's mass market fiber network assets in 10 states for $5.75 billion cash.
- 2Acquisition significantly expands AT&T's fiber footprint and enhances its broadband market position.
- 3Transaction is expected to close in the first half of 2026, subject to regulatory approvals and other closing conditions.
- 4The deal involves AT&T's subsidiary Forged Fiber 37, LLC acquiring five of Lumen's newly formed subsidiaries.
- 5Customary representations, warranties, and covenants are included in the purchase agreement.
- 6AT&T has obtained representation and warranty insurance for specific risks.
- 7The acquisition underscores AT&T's strategic focus on investing in and expanding its fiber infrastructure.