Lumen reportedly working on sale of fiber assets, says Citi

Citi highlights TMT Finance reported yesterday that Lumen (LUMN) is working with two investment banks to explore strategic options for its fiber assets with talks underway. The firm views the news as another positive indicator of interest to monetize the fiber assets that could introduce another potentially positive catalyst for Lumen to reduce its financial leverage and extend its cash runway. Citi would prefer the company divest the entirety of its mass market assets but recognizes the buyer pool is potentially larger if Lumen were to just sell the fiber assets. It keeps a Neutral rating on the shares.