1012 ET - Lumen Technologies is of 3.5% in early trading after sliding more than 9% on Tuesday, after reports that the company would sell its fiber business to AT&T for about $5.5 billion. Raymond James thinks the sell-off was triggered by the fact that Reuters had reported in December the deal could be worth $6 billion to $9 billion. Analysts Frank Louthan and Rob Palmisano say in a research that they're convinced the business will sell in the next 12 months and that AT&T will likely be a top bidder, or perhaps even its joint venture partner Gigapower. (dean.seal@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 10:13 ET (14:13 GMT)
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