(Reuters) -AT&T is in talks to acquire Lumen Technologies’ consumer fiber operations, in a deal that could value the unit at more than $5.5 billion, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.
Shares of Lumen were down more than 12% after the report.
The terms, which are not yet finalized, could change or the talks might still collapse, according to the report.
Lumen declined to comment, while AT&T did not immediately respond to Reuters’ request for comment.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Alan Barona and Vijay Kishore)
