T-Mobile, KKR Launch JV To Acquire Metronet

(RTTNews) - Wednesday, T-Mobile US, Inc. (TMUS) announced an agreement with investment firm KKR & Co. Inc. (KKR) to form a joint venture aimed at acquiring Metronet, a prominent operator in fiber-to-the-home services.

T-Mobile plans to invest around $4.9 billion for a 50% equity ownership in the JV.

Once the deal is finalized, T-Mobile will take over 100% of Metronet's residential fiber retail operations and customer base. Metronet's fiber network, which provides symmetrical multi-gigabit internet, will strengthen T-Mobile's 5G mobile and fixed-wireless services.

Metronet will transition into a wholesale services provider, concentrating on network engineering, deployment, and customer installation. The company is projected to be self-sustaining and aims to reach 6.5 million homes by the end of 2030.

Additionally, the JV will purchase Oak Hill Capital's current stake, with an affiliate of Oak Hill making a minority investment in the JV. The Cinelli family will also continue to be minority investors alongside KKR and T-Mobile.

The deal is anticipated to close in 2025.