B purchase of Lumen's (NYSE:LUMN) consumer fiber business as "a positive" and "strategically aligned." The transaction will benefit both parties as it boosts the U.S. telecom giant's fiber footprint and reduces debt and creates a leaner business structure for the smaller rival.

AT&T Inc. agreed to buy the consumer fiber operations of Lumen Technologies Inc. for $5.75 billion, expanding its fast broadband service in major cities like Denver and Las Vegas. AT&T will pay cash for the unit of Lumen,

(Reuters) -AT&T has clinched a deal to acquire Lumen Technologies' consumer fiber operations for $5.75 billion in cash, the companies said on Wednesday, as the wireless provider adds further scale to its national fiber footprint.