KKR, T-Mobile Finalize Multibillion Acquisition of Metronet
T-Mobile projected to pass 12-15 million homes with fiber
WASHINGTON, July 29, 2025 – Metronet announced that it has been acquired by a multi-billion joint venture controlled by T-Mobile and private equity KKR.
The joint venture now controls all of Metronet’s assets and operations, including its 42,000 miles of fiber lines that serve more than 2.6 million customers across 19 states.
T-Mobile will gain control of Metronet’s residential retail operations and a 50 percent stake in the joint venture in exchange for a $4.9 billion investment. KKR will also gain a 50 percent stake in the joint venture for an undisclosed amount of equity.
Thursday’s announcement marks another acquisition for KKR, a global investment firm with more than 12 fiber investments across 30 million homes globally. The firm has pledged $31 billion of equity for digital infrastructure, $20 billion for power and renewables, and was involved in discussions with Meta to finance a $29 billion artificial intelligence data center project.
“Fiber is the connective tissue of the modern economy—from tele‑health and remote learning to AI‑powered enterprises,” Waldemar Szlezak, Partner and Global Head of Digital Infrastructure at KKR said. “...By combining Metronet’s leading build engine with T‑Mobile’s national reach, we can accelerate world‑class connectivity to millions of underserved homes and businesses.”
The announcement also marks an increased fiber footprint for T-Mobile, whose CEO Mike Sievert hopes to expand Metronet’s reach to 6.5 million homes by 2030. With the acquisition of Metronet, the internet-service provider is estimated to control fiber lines passing between 12-15 million homes.
Metronet’s founder John Cinelli will retain a minority stake in the venture, as will Oak Hill Capital, a long-time investor in the company. The FCC approved the acquisition earlier this month after T-Mobile pledged to roll back some of its Diversity, Equity and Inclusion initiatives.
“Metronet has built the industry’s most efficient fiber‑construction engine, bringing world‑class digital infrastructure to underserved communities at an unprecedented pace,” Dave Heimbach, CEO of Metronet, said. “With KKR and T‑Mobile, we have best‑in‑class strategic partners committed to taking our growth to the next level.”
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