AT&T (T) and BlackRock Alternatives, through a fund managed by its Diversified
Infrastructure business, have signed an agreement to form a joint venture, Gigapower, LLC, that will operate a commercial fiber platform. It will provide a fiber network to
internet service providers and other businesses across the U.S.
Gigapower will serve customers outside of AT&T's traditional 21-state wireline service footprint with fiber access technologies. Gigapower plans to deploy a multi-gig fiber network to an initial 1.5 million customer locations across the nation using a commercial open access platform.
AT&T does not expect to consolidate Gigapower's financial results but does expect to report its consumer subscribers served through Gigapower in Consumer Wireline business unit operational results.
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