Telecom Weekly Roundup: AT&T, Verizon, and Charter Redraw the Map

🏆 Top Stories

AT&T Acquires Lumen’s Fiber Business for $5.75B
AT&T has announced a $5.75 billion all-cash agreement to acquire the majority of Lumen’s residential fiber broadband network. The acquisition includes around one million fiber customers and infrastructure spanning more than four million fiber locations across 11 U.S. states. This move excludes Lumen’s enterprise fiber and copper-based customer segments. The deal, pending regulatory approval, is expected to finalize in the first half of 2026.
Source: Barron’s

Verizon’s $20B Acquisition of Frontier Communications Approved by FCC
The FCC has approved Verizon’s $20 billion acquisition of fiber internet provider Frontier. The approval hinges significantly on Verizon's commitment to cease all practices related to Diversity, Equity, and Inclusion (DEI). As part of the conditions, Verizon will eliminate DEI-related HR roles, training, and workforce diversity goals. This decision aligns with FCC Chair Brendan Carr's stance which previously criticized DEI initiatives and signaled that future deal approvals may be contingent on their removal.
Source: The Verge

Charter and Cox Merge in $21.9B Deal
Charter Communications announced a $21.9 billion acquisition of Cox Communications as both companies face mounting pressure from wireless carriers encroaching on their broadband territory. This merger brings together Charter’s 31.4 million and Cox’s 6.3 million customers to strengthen their presence in the internet market and compete more effectively with telecom giants like Verizon and T-Mobile, which are expanding home broadband via 5G.
Source: WSJ

🤝 Mergers & Acquisitions

Telefonica Sells Uruguay Unit to Millicom for $440M
Spanish telecommunications company Telefonica has agreed to sell its Uruguayan unit to Luxembourg-based Millicom International for $440 million. This move aligns with Telefonica’s broader strategy to exit Spanish-speaking Latin American markets.
Source: Reuters

Iliad Reports Strong Q1 Performance Amidst M&A Speculations
French telecommunications company Iliad clarified that it is not engaged in merger discussions with Telecom Italia, despite industry push for consolidation to alleviate intense competition in the Italian market. Iliad reported a strong first-quarter performance with a 6% rise in core profit to €931 million, bolstered by significant subscriber growth in Italy.
Source: Reuters

🔐 Security & Infrastructure

Cellcom Cyber Incident Highlights Need for Robust Cybersecurity
Cellcom continues to work to fully restore its services following a recent cyber incident that has impacted customers' ability to make phone calls and send text messages. Cyber experts say the incident at Cellcom should be a wakeup call for other companies to take extra cyber security precautions.
Source: Fox

Altius Telecom Infrastructure Trust Reports 30.75% Decline in Net Profit
Altius Telecom Infrastructure Trust reported a 30.75% decline in consolidated net profit for the March 2025 quarter, reflecting challenges in the telecom infrastructure sector.
Source: Capital Market

📅 Industry Events

Allegro MicroSystems to Present at TD Cowen's 53rd Annual TMT Conference
Allegro MicroSystems, Inc. announced that the company will present at TD Cowen’s 53rd Annual Technology, Media & Telecom Conference on Thursday, May 29, 2025, at the InterContinental New York Barclay in New York, NY.
Source: GlobeNewswire

Stay tuned for more updates next week.