Lumen Stock Is Rising Thursday: What's Going On?
Lumen Technologies, Inc. (NYSE:LUMN) stock is trading higher Thursday after the company announced the sale of its consumer fiber-to-the-home business.
What To Know: Lumen announced the sales of its fiber-to-the-home business to AT&T (NYSE:T) for $5.75 billion in cash. The company’s network consists of about 1 million fiber customers and reaches more than 4 million fiber locations across 11 U.S. states.
The transaction supports AT&T’s plans to extend its fiber network to reach about 60 million total fiber locations by year-end 2030.
The deal excludes Lumen's enterprise fiber and copper-based customers. AT&T will place the acquired assets into a new subsidiary called NetworkCo, which it plans to partially sell to an equity partner within a year of closing.
“We’re leading the race to connect more Americans with fiber, the best broadband connectivity technology available,” said John Stankey, Chairman and CEO, AT&T.
“This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas across 11 states.”
The deal is expected to close in the first half of 2026.
LUMN Price Action: At the time of publication, Lumen stock is trading 3.41% higher at $3.94, according to data from Benzinga Pro.
Image: via Shutterstock
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