Lumen Technologies shares soar after completing $5.75 billion deal with AT&T
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According to CoinWorld, Lumen Technologies' stock price rose by 7.55% to $9.48 after the company completed a $5.75 billion deal to sell its mass market fiber business to an exchange. The company will use approximately $4.8 billion of the proceeds to pay down debt, thereby reducing annual interest expenses by about $300 million. CEO Kate Johnson stated that this move enables Lumen to focus on enterprise digital infrastructure and artificial intelligence, with plans to expand its intercity fiber network to 47 million miles by 2028.
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