T-Mobile has entered into a joint venture (JV) with KKR to acquire Metronet in a move that will significantly expand T-Mobile’s fibre footprint. Metronet, it’s worth noting, is currently the fastest-growing pure-play fibre company in the US.
“This is a unique opportunity and a smart, capital-efficient deal that enables T-Mobile to profitably build on our success in broadband and provide fast, affordable, and reliable connectivity options to millions more customers nationwide as a complement to our wireless growth strategy,” said Mike Sievert, CEO of T-Mobile, in the announcement.
The deal also represents an ambition to reach 6.5 million homes by the end of 2030, and much depends on this JV’s performance and Metronet completing its $7 billion project integration operations.
The deal will not close soon—about nine months to be exact—but in the fast-paced world of telecoms, this is a very long time, and anything can change between now and then.
“Metronet is the perfect partner for T-Mobile as a leader in fibre solutions with an incredibly fast build pace, and a top-notch management team,” Sievert added.
Just last week, KKR expressed their enthusiasm for the deal. Waldemar Szlezak, partner and global head of digital infrastructure at KKR, said, “Our new joint venture with T-Mobile will be transformational for the future of the Metronet business.
We look forward to benefiting from T-Mobile’s industry-leading customer experience to support the company in reaching its full potential.”
