AT&T Forms Fiber JV With GIP and CPP Investments
T sits 22% above its 52-week low of $19.89.
Summary
AT&T is forming a new U.S. fiber joint venture with BlackRock and CPP Investments. The deal expands AT&T's fiber footprint through external capital, reducing its own funding burden while accelerating deployment. This follows AT&T's recent $3B+ Corning fiber supply agreement and its $23B EchoStar spectrum acquisition, reinforcing a strategic push into fiber and fixed wireless. The JV structure allows AT&T to grow its network without fully consolidating the capital costs, a positive for free cash flow. Specific financial terms and ownership percentages were not disclosed in the headline.
At the time of this announcement, T was trading at $24.25 on NYSE in the Technology sector, with a market capitalization of approximately $166.1B. The 52-week trading range was $19.89 to $29.44. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.