AT&T Buys Lumen’s Consumer Fiber Business for $5.75 Billion

AT&T Inc. agreed to buy the consumer fiber operations of Lumen Technologies Inc. for $5.75 billion, expanding its fast broadband service in major cities like Denver and Las Vegas.

AT&T will pay cash for the unit of Lumen, according to a statement Wednesday. Talks between the companies were reported earlier by Bloomberg News. The sale is subject to regulatory approval and is expected to close in the first half of next year.