T-Mobile has announced plans to invest around $4.9 billion in the creation of a joint venture with the investment firm KKR to acquire the fiber-optic internet company Metronet. The goal is to reach more private broadband users.

The second-largest mobile carrier in the U.S., T-Mobile, will hold a 50 percent stake in the joint venture and take over Metronet's residential fiber operations along with its two million customers in 17 states. Based in Evansville, Indiana, Metronet aims to reach 6.5 million households and businesses by the end of 2030.

This is the latest step by T-Mobile, which is under the control of Deutsche Telekom, to further expand its fixed wireless internet service, which currently reaches more than five million customers. In April, T-Mobile announced it would invest about 950 million dollars for half of a joint venture with investment firm EQT to acquire the fiber optic network company Lumos. T-Mobile will additionally invest half a billion dollars to help Lumos reach 3.5 million households by the end of 2028.

The new joint venture will acquire Oak Hill Capital's majority stake in Metronet. Oak Hill will reinvest to maintain a minority stake. John Cinelli, co-founder and current chairman of Metronet, will also retain a minority stake after the deal is completed.

With the acquisition of retail operations and customers by T-Mobile, Metronet will focus on network technology, design, and deployment, as well as customer installation. T-Mobile added that it does not expect to invest additional capital in the new joint venture.

This strategic decision is intended to help T-Mobile further strengthen its position in the highly competitive market for fixed-line broadband services while simultaneously expanding the reach and availability of high-speed internet in the USA.