WASHINGTON (dpa-AFX) - T-Mobile (TMUS) and EQT Tuesday announced the successful close of their joint venture (JV) to acquire fiber-to-the-home provider Lumos.
Currently, Lumos operates a 7,500-mile fiber network, providing high-speed connectivity to 475,000 homes across the Mid-Atlantic. The joint venture combines the Un-carrier's unique assets with EQT's fiber infrastructure expertise, and Lumos' scalable build capabilities to drive rapid network expansion, with the goal of reaching 3.5 million homes by the end of 2028.
To fuel this growth, T-Mobile invested $950 million into the joint venture, with an additional $500 million planned between 2027 and 2028 to support further expansion.
'T-Mobile is already the fastest-growing broadband provider in America, and expanding into fiber helps us take the next big step in delivering what customers truly want - faster, more reliable internet that simply works,' said Mike Katz, T-Mobile President of Marketing, Strategy and Products. 'People deserve better when it comes to their home internet: fewer disruptions, more value, and support that actually feels supportive. We're excited to welcome Lumos customers to the T-Mobile family and bring them the Un-carrier experience - built around their needs, fueled by innovation, and focused on making life easier.'
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