AT&T agrees to acquire substantially all of Lumen’s Mass Markets fiber internet connectivity business in a deal that’s expected to close in the first half of 2026
Transaction to stimulate investment, expand world-class connectivity in the U.S., create new jobs and make high-speed fiber internet access available to millions of Americans
AT&T will extend its industry-leading fiber network with plans to reach approximately 60 million total fiber locations by year-end 2030.
Key Takeaways:
- AT&T will acquire substantially all of Lumen’s Mass Markets fiber business, which today totals about 1 million fiber customers and reaches more than 4 million fiber locations across 11 U.S. states.
- AT&T reiterates full-year 2025 financial and operational guidance and share repurchase plans.
How might this impact customers in Minnesota (or at least the Twin Cities)?
The transaction will enable AT&T to significantly expand access to AT&T Fiber in major metro areas like Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Portland, Salt Lake City and Seattle, as well as additional geographies. AT&T expects this transaction to deliver significant value to consumers, shareholders and the Company.
Highlights include:
- Expanding the availability of AT&T Fiber. AT&T expects to significantly grow the number of AT&T Fiber customers within the acquired fiber footprint, using its extensive distribution, the strengths of AT&T Fiber, and the value of the AT&T Guarantee. Over time, AT&T expects to increase fiber customer penetration within the acquired footprint to levels more consistent with its current penetration of AT&T Fiber.
- Accelerating an efficient build engine for constructing fiber home internet connectivity outside of AT&T’s traditional wireline operating region. Through this transaction, AT&T will gain access to Lumen’s substantial fiber construction capabilities within its incumbent local exchange carrier (ILEC) footprint and plans to accelerate the pace at which fiber is being built in these territories. AT&T now expects to reach approximately 60 million total fiber locations by the end of 2030 – roughly doubling where AT&T Fiber is available today.
- Giving American consumers more choice when selecting broadband and wireless services the way they prefer – with fiber and 5G together. Customers with both AT&T Fiber and the Company’s wireless services are more likely to recommend AT&T, remain customers longer and provide the best returns. AT&T expects that its ability to offer 5G wireless and fiber broadband connectivity within Lumen’s Mass Markets fiber footprint will enable the Company to grow its base of high-value converged customer relationships and drive gains in its Mobility business.