Latham & Watkins Advises Lumen Technologies in US$5.75 Billion Sale of Consumer Fiber-to-the-Home Business to AT&T

Lumen Technologies, Inc. (NYSE: LUMN) announced that it has entered into a definitive agreement to sell Lumen’s Mass Markets fiber-to-the-home business, including Quantum Fiber, in 11 states to AT&T (NYSE: T) for a total of US$5.75 billion in cash, subject to working capital and other various purchase price adjustments. The transaction is expected to close in the first half of 2026, subject to any necessary approvals and closing conditions.

Latham & Watkins LLP represents Lumen in the transaction with a corporate deal team led by Chicago partner Bradley Faris, with associates Said Bakir, Hanks Bird, and Jack French with assistance from Meghan McDuff. Advice was provided on communications matters by Washington, D.C. partner Matthew Brill, with associate Michael Herman; on commercial agreements and intellectual property matters by Washington, D.C. partner Morgan Brubaker, with associates Ryan Clore and Alice Chen; on tax matters by Bay Area partner Katharine Moir, with associates Gregory Conyers and Dennis Poehland; on real estate matters by New York counsel Shira Bressler; on data privacy matters by Washington, D.C. partner Clayton Northouse, with associate Sarah Zahedi; on employment matters by Chicago partner Nineveh Alkhas, with associate Jocelyn Wexler; on benefits and compensation matters by Bay Area partner James Metz, with associate Nimra Syed; on environmental matters by Los Angeles partner Josh Marnitz, with associate Phil Goldberg; and on liability management and finance matters by New York partners John Sobolewski and Kendra Kocovsky, with assistance from Edward Prevost and Julius Ma.