Phones Canada is thrilled to announce the latest development in the telecommunications industry. T-Mobile, a leading telecom operator, is set to acquire fiber Internet Service Provider (ISP) Metronet through a joint venture with investment company KKR. This strategic move will not only expand T-Mobile’s fiber footprint but also enhance its ability to provide fast and reliable broadband services to customers across the US.

Here are some key highlights of this exciting development:

– T-Mobile will invest approximately $4.9 billion for a 50 percent equity stake in the joint venture, gaining access to all of Metronet’s residential retail operations and customers.
– By leveraging Metronet’s robust fiber infrastructure, T-Mobile aims to deliver high-speed internet services without having to build everything from scratch.
– With Metronet currently serving 2 million households and businesses in 17 states, T-Mobile is poised to significantly increase its customer base and reach by acquiring all of Metronet’s residential fiber retail operations.
– Looking ahead, T-Mobile plans to expand Metronet’s services further, with a goal of reaching a customer base of 6.5 million by 2030.
– The partnership between T-Mobile and Metronet will enable both companies to combine their expertise and resources effectively, allowing for faster and more extensive expansion of the fiber network.

As part of this agreement, Oak Hill Capital, the majority owner of Metronet, will sell its stake to the joint venture while retaining a minority position through reinvestment.

The transaction is expected to close next year pending regulatory approval. In light of recent regulatory challenges facing telecom operators in the US, such as attempts to block acquisitions and mergers, the outcome of this acquisition will undoubtedly be closely watched.

Stay tuned for more updates on how this acquisition unfolds as Phones Canada continues to bring you the latest news and developments in the telecommunications industry.