AT&T reportedly conducted talks to buy Lumen Technologies’ consumer fibre operations in a deal valued at more than $5.5 billion, in an attempt to beef up its footprint.

Bloomberg reported the exclusive negotiations are not finalised and that the terms of the deal could change.

At the end of 2024, Lumen Technologies reported a debt load of approximately $17.9 billion. 

Reuters reported Lumen Technologies is focusing its attention on AI to boost the company’s bottom line, which includes a partnership with Microsoft.

The news agency noted the process to sell-off its FTTH business started in December 2024.  It has fibre in 400 of its central offices, according to Reuters.

AT&T and Lumen Technologies told Mobile World Live they don’t comment on rumours and speculation.

AT&T CEO John Stankey previously stated the build out of fibre is one of the operator’s primary goals going forward. He expects the US operator to reach more than 50 million fibre locations by the end of 2029.

It is also adding fibre customers through its Gigapower joint venture with private equity company BlackRock Alternative

AT&T’s move follows Verizon’s $20 billion deal to buy Frontier Communications, which includes 2.2 million fibre subscribers.

In 2024, T-Mobile US paid $4.9 billion for a 50 per cent stake in US-based fibre service provider Metronet , which followed a $950 million deal to acquire a 50 per cent equity in Lumos Networks earlier in the year.