Key facts
- AT&T will own 50% of the new fiber joint venture.
- Global Infrastructure Partners and Canada Pension Plan Investment Board will jointly own the remaining 50%.
AT&T forms fiber joint venture with BlackRock's GIP, CPP Investments
IN SHORT
AT&T Inc. is forming a fiber joint venture with Global Infrastructure Partners (GIP) and Canada Pension Plan Investment Board (CPP Investments) to expand its fiber network across the U.S. The venture, expected to close in the first half of 2027, will combine AT&T's fiber assets and existing wholesale venture with GIP. AT&T will hold a 50% stake, with GIP and CPP Investments holding the other 50%.
Key Numbers
50%AT&T ownership stake in the joint venture
50%GIP and CPP Investments' joint ownership stake
16states for fiber expansion
2.5times target for net-debt-to-adjusted EBITDA ratio
Who's Involved
AT&T
forming a fiber joint venture to expand its network
Global Infrastructure Partners
co-owning the new fiber joint venture
Canada Pension Plan Investment Board
co-owning the new fiber joint venture
↳ Why This Matters
The joint venture allows AT&T to pursue a capital-light expansion strategy, potentially accelerating its fiber network buildout into new markets and improving its financial leverage.