T-Mobile-Lumos Deal Under Review for Foreign Participation

WASHINGTON, Nov. 4, 2024 – The Justice Department said the T-Mobile-Lumos deal is under the usual review for foreign participation to guard against risks to national security or law enforcement in the United States.

The Federal Communications Commission was informed by the department on Friday that the application by T-Mobile and EQT to purchase Lumos Networks was under review by the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector.

The committee plans to complete its initial review within the 120 day initial review period. It reserved the right to extend the review period, and conduct a 90 day secondary review if necessary. Deutsche Telekom in Germany is T-Mobile's largest shareholder. T-Mobile is led by CEO Mike Sievert.

EQT is a global investment organization headquartered in Stockholm, Sweden. As part of the deal, T-Mobile is investing $950 million to purchase Lumos in a joint venture announced on April 25, 2024.

Lumos, which currently serves more than 320,000 locations, has 7,500 miles of fiber. T-Mobile has about 6 million U.S. customers to its 5G fixed wireless service.