AT&T has announced the purchase of substantially all of Lumen’s Mass Markets fiber business for $5.75 billion.
The deal adds Lumen’s 1 million existing fiber internet users to AT&T’s customer base across 32 states, the company said in a release.
“This investment will create good-paying jobs, boost U.S. connectivity and bring the benefits of high-speed connections to more communities across the country,” Chairman and CEO of AT&T John Stankey said.
Fiber optic cables provide faster internet connectivity using light waves to transfer information, versus traditional copper wires, which send electrical signals.
Read more about the deal at att.com.
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