October 28, 2024 – 6:24 AM PDT
(Reuters) – AT&T (T.N) said on Monday it had struck a $1 billion multi-year deal with Corning (GLW.N) to buy fiber, cable, and connectivity solutions, as the U.S. telecom giant looks to expand its high-speed internet services.
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WHY IT’S IMPORTANT
With the U.S. wireless market facing a slowdown, telecom companies such as AT&T and rival Verizon (VZ.N) have doubled down on their high-speed internet businesses, an area that has long been dominated by broadband companies such as Comcast (CMCSA.O).
Demand has also been growing for AT&T’s plans that…
