AT&T Inc is in talks to create a joint venture that would invest billions of dollars to expand its fiber-optic network, Bloomberg News report said.
The company is working with Morgan Stanley to bring in an infrastructure partner to the broadband venture, which is expected to be valued at $10 billion to $15 billion.
AT&T plans to expand its high-speed home internet service to newer areas in the country, in a bid to attract new subscribers.
AT&T CEO John Stankey recently said the wireless operator has the ability to serve 18 million customer locations in more than 100 metro areas with AT&T Fiber.
John Stankey said there may be an opportunity to expand the company’s fiber footprint based on the attractiveness of returns and that government subsidies supporting public-private partnership are expected to help drive broadband expansion.
AT&T Fiber is the fastest among major providers and offers symmetrical speeds of up to 5-Gigs on downloads and uploads.