T-Mobile is now acquiring Lumos in a joint venture with EQT.
Fiber optic rollout is a notoriously difficult process.
T-Mobilebegan buildingits fiber data pipe in mid-2023.
Hannah Stryker / How-To Geek
That’s why T-Mobile is going down the acquisition route.
The other company involved in this joint acquisition,EQT, is a “purpose-driven global investment organization.”
It also has a six-year-long relationship with Lumos and has partnered with T-Mobile in the past.
T-Mobile, with an initial investment of approximately $950 million, will own 50% of Lumos.
(T-Mobile’s $950 million investment will be used by Lumos for “future fiber builds.")
This acquisition is still subject to regulatory approval.
However, it could mark a major turning point for T-Mobile’s relatively recent dip into the fiber market.
It’s an “underserved,” untapped market.
However, Lumos will switch to a wholesale model after this deal closes.
Source:T-Mobile,EQT
