T-Mobile is establishing a joint venture with global investment firm KKR to acquire Metronet, a high-speed internet service provider offering multi-gigabit internet service to homes and businesses in more than 300 communities across U.S. 17 states.
As part of the transaction, the T-Mobile/KKR joint venture also will acquire Oak Hill Capital’s existing stake in the company. Oak Hill Capital will reinvest to retain a minority position, and founder John Cinelli also will retain a minority position after the deal closes.
At closing, T-Mobile is expected to invest approximately $4.9 billion to acquire a 50 percent equity stake in the joint venture and 100 percent of Metronet’s residential fiber retail operations and customers, as well as funding of the joint venture.
Metronet is uniquely positioned as the fastest-growing pure-play fiber company in the United States and is an experienced independent fiber-to-the-home (FTTH) operator. The company currently reaches
