Telecommunications major AT&T Inc. (T) announced that it has partnered with a fellow telecommunications company, Frontier Communications, to provide fiber-optic connectivity to enterprises that do not use services provided by AT&T. Notably, multi-year strategic agreements for the deployment of AT&T's 5G mobility network were also signed between the companies. Following the news, shares of the company appreciated marginally to close at $27.33 in extended trade on Wednesday. By developing additional fiber, AT&T aims to reach about 2.5 million incremental customer locations by the end of 2021 and 30 million locations by the end of 2025.
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