Lumen Technologies (LUMN) initiated the process to divest its consumer fiber operations as it plans to reduce debt and exit mass markets business, Reuters reported Thursday, citing people familiar with the matter.
The company is working with Goldman Sachs to seek potential buyers for its fiber business, the people reportedly said.
Lumen may also opt to sell a stake in the unit or pursue a joint venture, according to the report. These are early-stage discussions, and a deal is not certain.
Lumen did not immediately respond to MT Newswires' request for comment.
Company shares were up more than 4% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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