Lumen rises, AT&T to buy its consumer fiber business unit for $5.75 bln
ReutersMay 21, 2025 8:48 PM
Shares of telecommunications company Lumen Technologies LUMN.N rise 17.6% to $4.48 in extended trading
Lumen says AT&T T.N would acquire its consumer fiber operations for $5.75 billion in cash
The cash proceeds from the sale will help Lumen trim its debt pile by $4.8 billion and enhance cash flow by reducing interest expenses by more than $300 million annually
The sale is expected to allow Lumen to focus on its growing enterprise fiber business
Up to last close, stock down 28.3% YTD
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