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The company is working with Morgan Stanley (NYSE:MS) to help bring in an infrastructure partner to the venture, which is expected to be valued at $10 billion to $15 billion, according to the report.
The discussions with infrastructure investors are early and could still fall apart, Bloomberg News reported, adding that AT&T could find a partner as soon as this year, but it could also slip into 2023.
The news comes as AT&T plans to expand its high-speed home internet service to newer areas in the country, in a bid to attract new subscribers.
AT&T and Morgan Stanley did not immediately respond to Reuters requests for comment.
