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Bond Market News
AT&T Said to be in Talks to Acquire Lumen’s Consumer Fiber Operations
March 26, 2025
AT&T is said to be in discussions to acquire Lumen Technologies’ consumer fiber operations, in a deal potentially worth over $5.5bn, according to Bloomberg News. The talks, which are still ongoing, could change or fall apart, and the final terms have not been finalized. Following the news, Lumen’s shares fell by over 14%. Both companies declined to comment on the matter. Lumen’s decision to sell its consumer fiber business, which provides high-speed internet to residential customers, comes as it focuses on growth through AI while struggling with the decline of its legacy business. The company’s network includes more than 1,700 wire centers, with fiber services available in around 400 of them. Meanwhile, AT&T has been investing heavily in expanding its fiber internet services to accelerate subscriber and revenue growth. A potential acquisition of Lumen’s fiber operations is expected to boost AT&T’s position in the fiber internet market. Lumen had launched a sale process for its consumer fiber operations earlier this month.
Lumen’s 4.5% 2029s were trading steady at 82.5, yielding 10.2%. AT&T’s bonds were also trading stable with its 4.3% 2030s at 98.1, yielding 4.7%.
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