Google transfers its equity stake in the fiber optics division

Google says its fiber internet business unit, GFiber, will merge with Astound Broadband to form an independent operator, and Google will retain a minority shareholder stake. In a press release, Google said the new company will be controlled by investment firm Stonepeak and led by the existing GFiber management team, “using their expertise in high-speed fiber innovation to manage the post-merger network footprint.”