AT&T, BlackRock to form commercial fiber-optic platform

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Wireless carrier AT&T Inc and fund manager BlackRock Inc are forming a joint venture to operate a fiber-optic platform in the United States, the companies said on Friday. The venture, Gigapower LLC, plans to deploy its network to an initial 1.5 million customer locations outside of AT&T's traditional 21-state

The companies said they would jointly own and govern Gigapower, but did not disclose additional deal terms.

Bloomberg News reported in October that AT&T had hired Morgan Stanley to help bring in an infrastructure partner to the venture, which could be valued at $10 billion to $15 billion.

 

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