T-Mobile and KKR announce plans to acquire Metronet
BRYAN, Texas (KBTX) – T-Mobile announced Wednesday it has entered into a definitive agreement to establish a joint venture with leading global investment firm KKR to acquire Metronet including its broadband infrastructure, residential fiber business operations, and existing customers.
“Metronet is uniquely positioned as the fastest-growing pure play fiber company in the U.S. and an experienced independent fiber-to-the-home operator,” T-Mobile shared in a news release. The company currently reaches more than 2 million homes and businesses across 17 states, including parts of the Brazos Valley.
“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. “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. Together with KKR’s strong heritage of corporate partnership and global fiber franchise, we will further expand the Un-carrier’s fiber footprint and deliver real value and choice to customers while addressing a growing demand for fast and reliable broadband.”
The transaction is expected to close in 2025, subject to customary closing conditions and regulatory approvals.
In May, T-Mobile began steps to acquire USCellular Wireless to reportedly benefit rural customers.
