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Emma Roth
T-Mobile is set to acquire the fiber internet provider Metronet.

T-Mobile is creating a joint venture with the investment firm KKR to acquire Metronet, a service that provides fiber internet to over 2 million homes and businesses in 17 states.

As part of the deal, T-Mobile will invest $4.9 billion for a 50 percent stake in the joint venture and all of Metronet’s residential customers. In April, T-Mobile announced plans to acquire the fiber optic company Lumos as well.

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