AT&T completes acquisition of Lumen mass markets fiber business for $5.75B

AT&T (T) has closed its previously announced transaction to acquire substantially all of Lumen’s (LUMN) mass markets fiber business for $5.75B in an all-cash transaction, subject to customary adjustments. “America’s largest network is the best positioned in our industry to serve even more consumers – both in the home and on the go,” said John Stankey, chairman and CEO of AT&T. “AT&T Fiber – America’s best and top-rated technology for getting on the internet – will be available to millions more people as we expand the service in 32 states. 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.”