AT&T's Lumen Fiber Acquisition Is Smaller Deal Than Expected: MoffettNathanson
MoffettNathanson analysts said AT&T’s proposed buy of substantially all of Lumen’s mass-market fiber business for $5.75 billion in cash was a smaller deal than expected (see 2505210078). A deal "was widely expected," but AT&T “proposed a relatively small transaction,” the…
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firm said Thursday: “Lumen is still left with the bulk of its [incumbent local exchange carrier] assets (all its enterprise business, both copper and fiber; all its copper residential plant and subscribers; and all the related infrastructure, like central offices). And AT&T will have a fiber footprint that today reaches only about a quarter of U.S. households, and which, even after eventually meeting all of AT&T’s expansion goals, will be available to less than a third of the country.”