T-Mobile and EQT Announce Joint Venture to Acquire Lumos and Build Out the Un-carrier's First Fiber Footprint

Core Viewpoint - T-Mobile and EQT have formed a joint venture to acquire Lumos, aiming to enhance broadband services across the U.S. by leveraging Lumos' fiber platform and T-Mobile's market strengths [1][2][3] Company Overview - T-Mobile is recognized as America's 5G leader and the fastest-growing broadband provider, currently serving over 5 million customers with its 5G Internet and T-Mobile Fiber services [3] - EQT is a global investment organization focused on infrastructure, bringing expertise in fiber infrastructure investments to the joint venture [1][4] Joint Venture Details - The joint venture will acquire Lumos, which currently serves 320,000 households over 7,500 route miles in the Mid-Atlantic region, transitioning Lumos to a wholesale model with T-Mobile as the anchor tenant [2][4] - T-Mobile is expected to invest approximately $950 million for a 50% equity stake in the joint venture, with additional commitments of around $500 million anticipated between 2027 and 2028 [4][5] Market Impact - The joint venture aims to address the increasing demand for reliable, low-latency connectivity, expanding T-Mobile's broadband success and enhancing competition in the market [3][4] - The initiative is projected to enable Lumos to reach 3.5 million homes by the end of 2028, significantly increasing broadband access in underserved areas [4][5] Strategic Goals - The partnership focuses on market identification, network engineering, deployment, and customer installation to deliver high-speed fiber internet connectivity [2][4] - T-Mobile's CEO emphasized the importance of providing fast, affordable, and reliable internet to homes and businesses, positioning the company as a leader in broadband services [3]