Lumen sells consumer fiber business to AT&T for $5.75B, to focus on enterprise networking

Lumen Technologies, Inc.

AT&T to acquire Lumen's Mass Markets fiber-to-the-home business, including Quantum Fiber, for $5.75B in cash.
Lumen will retain national fiber backbone, enterprise fiber customers, and copper network; sale includes ~4M enablements and ~1M subscribers.
Net proceeds of ~$4.2B to pay down ~$4.8B in superpriority debt, reducing annual interest expense by ~$300M.
Transaction expected to close in first half of 2026, subject to regulatory approvals and customary conditions.

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