AT&T in talks with investors to expand fiber optics network – report
6:36 pm Wednesday, October 19th, 2022
(Reuters) -AT&T Inc is in discussions to create a joint venture that would invest billions of dollars to expand its fiber-optic network, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The company is working with Morgan Stanley to help bring in an infrastructure partner to the venture, which is expected to be valued at $10 billion to $15 billion, according to the report.
AT&T declined to comment, while Morgan Stanley did not immediately respond to a Reuters request for comment.
The discussions with infrastructure investors are early and could still fall apart, Bloomberg News reported, adding that AT&T could find a partner as soon as this year, but it could also slip into 2023.
The news comes as AT&T plans to expand its high-speed home internet service to newer areas in the country, in a bid to attract new subscribers.
AT&T and Morgan Stanley did not immediately respond to Reuters requests for comment.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta)
