T-Mobile and KKR Form Joint Venture to Acquire Metronet for $4.9 Billion, Expanding Fiber Solutions to 6.5 Million Homes

Jul 24, 2024, 01:22 PM

T-Mobile and KKR have announced a joint venture to acquire Metronet, a fiber broadband provider. T-Mobile will invest approximately $4.9 billion to buy a 50% equity stake in the joint venture. Metronet currently reaches over 2 million homes and businesses across 17 states and is expected to expand to 6.5 million homes by 2030. The acquisition includes 100% of Metronet's existing retail fiber operations and customers. The sellers of Metronet are Oak Hill and the Cinelli family. The joint venture aims to offer leading fiber solutions to more U.S. consumers.