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.
are forming a joint venture to operate a fiber-optic platform in the United States, the companies said on Friday.
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.AT&T did not immediately respond to a Reuters request seeking more details on the deal, while BlackRock declined to comment.
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