T-Mobile has agreed to form a joint venture with KKR to acquire Metronet, a move that will substantially expand T-Mobile’s fiber footprint. Metronet is currently one of the fastest-growing pure-play fiber providers in the United States.
“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 company announcement.
The transaction targets reaching 6.5 million homes by the end of 2030, and its success will depend on the joint venture’s execution and Metronet’s progress on its planned $7 billion integration and build program. The deal is not expected to close immediately—it’s likely to take roughly nine months—leaving time for regulatory review and customary closing conditions.
“Metronet is the perfect partner for T-Mobile as a leader in fiber solutions with an incredibly fast build pace, and a top-notch management team,” Sievert added.
KKR also expressed strong support for the arrangement. Waldemar Szlezak, partner and global head of digital infrastructure at KKR, said the joint venture with T-Mobile will be transformational for Metronet’s future and that KKR looks forward to leveraging T-Mobile’s customer experience to help Metronet reach its full potential.
Metronet’s CEO, Dave Heimbach, welcomed the partnership, highlighting the strategic value of combining Metronet’s fiber capabilities with KKR and T-Mobile’s leadership in 5G and infrastructure.
Under the agreement, Metronet will sell 100% of its residential fiber retail operations and customer relationships, enabling T-Mobile to broaden its broadband offerings to more households. T-Mobile plans to use Metronet’s fiber-to-the-home expertise while assuming responsibility for marketing and selling residential broadband services—leveraging its retail presence, brand recognition, and customer service strengths.
Operational responsibilities will be divided to capitalize on each partner’s strengths. Metronet will focus on build plans, network engineering and design, and the essential field work required to deploy fiber—such as truck operations, trenching, and laying ducts to premises—while the joint venture will coordinate customer installations and final network activation.
This acquisition complements T-Mobile’s existing broadband business. T-Mobile’s 5G Home Internet has been adding tens of thousands of connections each quarter by using unused capacity on the carrier’s 5G network, serving more than 500,000 households and businesses nationwide. The addition of fiber assets will broaden T-Mobile’s service portfolio and support higher-speed, lower-latency offerings where fiber deployment is available.
“This expanded portfolio of offerings will help meet continually increasing consumer demand for higher speed and reliable broadband products,” Sievert noted, reflecting the company’s strategy to combine fixed wireless and fiber services to satisfy a range of customer needs.
The acquisition is expected to close in 2025, subject to customary conditions and regulatory approvals. If completed as planned, the partnership should accelerate T-Mobile’s ability to deliver fiber broadband to many new markets while allowing Metronet to continue executing on its rapid build-out strategy.
(Photo by Mika Baumeister)
See also: T-Mobile closes acquisition of Mint owner
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