Lumen rises, AT&T to buy its consumer fiber business unit for $5.75 bln

Lumen Technologies

21/05/2025 21:48

** 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

(Reporting by Christy Santhosh)

((Christy.Santhosh@thomsonreuters.com))