T-Mobile and EQT Finalize Joint Venture to Expand Fiber Internet Through Lumos Acquisition

T-Mobile and EQT have successfully completed their joint venture to acquire Lumos, a fiber-to-the-home internet provider. The deal is set to significantly expand broadband access across underserved regions in the U.S. and bring Lumos customers into the T-Mobile Fiber family. T-Mobile has invested $950 million into the venture, with plans for an additional $500 million by 2028, aiming to reach 3.5 million homes through Lumos’ 7,500-mile network.

Lumos customers will benefit from T-Mobile’s customer-centric model, including unlimited data, included equipment, and perks like Magenta Status discounts and freebies. The initiative strengthens T-Mobile’s broadband strategy, complementing its 5G Home Internet, which already serves 6.4 million customers.

EQT brings infrastructure expertise, Lumos provides scalable deployment capabilities, and T-Mobile leverages its brand and retail presence. Together, they plan to reach up to 15 million homes by 2030 with fiber access.

The press release also includes legal disclaimers about forward-looking statements and securities regulations, and lists advisory firms involved in the transaction. Background information on T-Mobile, EQT, and Lumos emphasizes their roles in delivering reliable, future-oriented internet services.