T-Mobile formally announces intention to swallow another company

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Anam Hamid is a computer scientist turned tech journalist who has a keen interest in the tech world, with a particular focus on smartphones and tablets. She has previously written for Android Headlines and has also been a ghostwriter for several tech and car publications.

wants to acquire fiber Internet Service Provider Metronet through a joint venture with investment company KKR. The telecom operator will invest around $4.9 billion for a 50 percent equity stake in the joint venture and all of Metronet's residential retail operations and customers., which calls itself the fastest-growing fixed wireless broadband provider, wants to expand its fiber footprint and cater to customers who want fast and reliable broadband.

Metronet is the fastest-growing fiber company in the US and currently counts 2 million households and businesses across 17 states as customers. After the planned acquisition,will get all of Metronet's residential fiber retail operations and customers. Metronet will become a wholesale services provider for its retail customers.also plans on expanding Metronet's services by utilizing its digital and fiber infrastructure expertise and is aiming for a customer base of 6.5 million by 2030.

Oak Hill Capital, which is the majority owner of Metronet, will sell its stake to the joint venture and re-invest to keep a minority position. The transaction is expected to close next year and like other deals like this, it will only go ahead if regulatory approval is granted. Anam is not a tech hoarder and believes in using her gadgets for as long as possible. She is concerned about smartphone addiction and its impact on future generations, but she also appreciates the convenience that phones have brought into our lives.

 

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