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Bond Market News
Lumen Said to Launch Sale of Consumer Fiber Operations Valued at Over $6bn
December 20, 2024
Lumen has launched a sale process for its consumer fiber operations, as per a report. The report notes that the transaction could be valued at $6-9bn depending on which parts of the unit Lumen chooses to sell and how a deal is structured. However, as per a Citi analyst, Lumen’s copper assets and fiber business may be worth $7-10bn in a potential sale. They are said to be currently working on gauging interest for the business from potential buyers that include industry rivals. Lumen could also choose to sell a stake in the fiber unit or sign a JV deal with a strategic partner. As per sources, talks are said to be at an early stage and a deal is not guaranteed.
Lumen’s bonds were trading mixed – its 4% 2027s were up 2.5 points to 92.8, yielding 7.33% while its 5.375% 2029s fell 1.5 points to 87.3, yielding 8.9%.
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