AT&T, Global Infrastructure Partners and CPP Investments to form fiber joint venture
T•AT&T will form a fiber joint venture with Global Infrastructure Partners and CPP Investments, with AT&T owning 50% and the partners collectively owning 50%. AT&T expects proceeds at closing to help reach its net-debt-to-adjusted EBITDA target of the 2.5x range within about three years.
1. Joint venture structure
The venture will include Forged Fiber 37 and Gigapower under a wholesale fiber company. AT&T expects to report Forged Fiber 37 as held for sale and discontinued operations until the deal closes; afterward, it does not expect to consolidate the joint venture’s financial results.
2. Financial outlook
AT&T reiterated the financial outlook and capital allocation plan it provided in its second-quarter 2026 earnings release.
