AT&T Pumping $1B Into Fiber-Optic, Private Networks

After announcing it would cut back on capex spending in 2009, AT&T Inc. (T) now says it’ll pump $1 billion into parts of its network this year.

The carrier will expand its undersea fiber-optic network to Alaska, Australia, Asia, India and Puerto Rico. It also will build private networks for SMBs in 18 countries.

AT&T’s shares were fluctuating in mid-morning activity, trading at $23.20 at 10:40 a.m. Eastern.

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