T-Mobile Invests $4.9 Billion in JV With KKR to Buy Metronet

T-Mobile US Inc. is investing $4.9 billion in a joint venture with private equity firm KKR & Co. to buy fiber-optic internet service provider Metronet.

The No. 2 US wireless carrier will use Metronet’s digital and fiber infrastructure to expand to more households with fiber broadband services, according to a statement on Wednesday.

Metronet, based in Evansville, Indiana, is owned by Oak Hill Capital and the Cinelli family. KKR has been a a minority investor in the company since 2021. Oak Hill will re-invest in the joint venture to retain a minority position and founder John Cinelli will also ...