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T-Mobile has come a long way, and over the years, has expanded its business by providing home internet service.
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A new report states that T-Mobile is in talks to purchase privately owned fiber provider Metronet.
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If the deal comes to fruition, the brand will partner with investment firm KKR & Co. Inc. in a 50/50 split.
T-Mobile has been quite busy over the past few years, growing into something that most would never have thought possible. It’s been nearly a decade since the then underdog launched its first Un-carrier campaign, with the intent of changing the wireless industry forever. And well, it succeeded, and from that success it has catapulted itself into a new hemisphere, becoming the best wireless carrier in the US thanks to its speed, coverage, and customer service.
As the wireless carrier has grown, so has its ambitions, which has caused it to purchase some of its competitors. Of course, many remember the giant merger with Sprint, which was finally completed in 2020. And more recently, the brand was able to close out its deal with Mint Mobile. With that said, it looks like T-Mobile’s hunger is insatiable, as it recently announced plans to buy US Cellular, and there’s now even a report surfacing that it’s aiming to make a run at purchasing the largest privately owned fiber internet provider in the US.
Another big move from Magenta
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Source: T-Mobile
The report comes from TMT Finance (paywall) sharing that T-Mobile, along with investment firm KKR & Co. Inc. are attempting to purchase Metronet, an internet service provider that currently delivers fiber internet service to home and business customers across 17 states (via Light Reading). The terms of the deal aren’t currently clear, but it would be a 50/50 arrangement between the two investors. According to Metronet’s About page, the brand currently has more than two million customers.
Metronet is currently expanding its fiber network in parts of Texas, specifically, Killeen and Copperas Cove. Now, how this all relates to T-Mobile? Well, if you aren’t aware, the brand has been expanding its home internet services as of late, and even has an arm of its business that deals with fiber internet. By purchasing Metronet, the brand could expand its offerings, and at the same time add more customers. While the transaction would be significant, this kind of move wouldn’t really significantly bolster the brand’s position in the market.
T-Mobile currently offers its fiber services in just eight states, which includes California, Colorado, Florida, and New York — just to name a few. As you might expect, T-Mobile isn’t the only familiar name in this market, with competitors like AT&T and Verizon also offering fiber internet services. Nothing has been officially announced, so there’s always the possibility that this deal will fall through, but don’t be surprised if you hear the wireless carrier announce in the near future that it is expanding its fiber services to more areas.
Source Agencies
