Latest news with #11states
Yahoo
24-05-2025
- Business
- Yahoo
AT&T to Acquire Lumen's Consumer Fiber for $5.75 Billion
On Wednesday, AT&T Inc. (NYSE:T) announced an agreement to acquire substantially all of Lumen Technologies' (NYSE:LUMN) consumer fiber business for $5.75 billion in cash, subject to purchase price adjustments. This aims to expand AT&T's national fiber footprint, which is expected to close in H1 2026, pending regulatory approval by the Department of Justice and other customary closing conditions. Close-up of a technician's hands adjusting a communication router. The acquisition will add ~1 million fiber customers to AT&T Inc.'s (NYSE:T) base and extend its fiber-network operations in major metropolitan areas across 11 US states. This expansion aligns with AT&T's goal to reach ~60 million total fiber locations by year-end 2030, which would almost double its current fiber availability. For Lumen Technologies (NYSE:LUMN), the sale of its consumer fiber assets allows the company to sharpen its focus on its enterprise fiber business. Chris Stansbury, CFO of Lumen, stated that the cash proceeds from the sale will help Lumen reduce its debt by $4.8 billion and enhance cash flow by cutting interest expenses by over $300 million annually. Lumen will retain its enterprise and wholesale fiber customers, its national fiber backbone network infrastructure, and its existing copper network that primarily serves consumer customers. While we acknowledge the potential of T to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than T and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Associated Press
12-05-2025
- Business
- Associated Press
Packaging and Delivering Meals to the Community on Fifth Third Day
This is what Fifth Third Day is all about! Thanks to everyone who came together to serve communities all across our 11-state footprint by packaging and delivering meals to the hungry. We wouldn't be Fifth Third without you, and it's our privilege to be your community bank. About Fifth ThirdFifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. CONTACT Amanda Nageleisen (Media Relations) [email protected] Matt Curoe (Investor Relations) [email protected] | 513-534-2345 Visit 3BL Media to see more multimedia and stories from Fifth Third Bancorp
