T-Mobile Invests $950 Million In Fiber Optic Network Provider Lumos

(CTN News) – On Thursday, wireless carrier T-Mobile US announced that it would invest $950 million to purchase 50% of the stake in a joint venture formed by EQT and T-Mobile US to acquire fiber optic network operator Lumos.

In accordance with the mutual agreements between both companies, the joint venture will be a joint venture between the two companies.

There are plans for T-Mobile, which is headquartered in Washington, to invest an additional $500 million in Lumos in the next few years so that the service can be made available to 3.5 million households as soon as possible.

The deal with EQT’s Infrastructure VI fund promises that T-Mobile will acquire all existing fiber customers of Lumos as part of the deal between the two companies, which is expected to be closed by the end of 2024 or the beginning of 2025.

Considering that Lumos, which has fiber internet connections in over 320,000 homes, will be transitioning from a retail model to a wholesale model with T-Mobile as its primary client, and will continue to be responsible for maintaining relationships with customers in the future, it is worth noting that.

This deal represents a significant step forward in expanding on T-Mobile’s broadband success and shaking up the competition in this space so that consumers can continue to enjoy enhanced value and choice in the future,” said CEO Mike Sievert.

“With the increasing demand for reliable, low-latency connectivity, this deal is an important step forward in expanding our broadband success as the demand for reliable, low-latency connectivity is increasing rapidly.”

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