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BRIEF-T-Mobile And EQT Announce Joint Venture To Acquire Lumos
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BRIEF-T-Mobile And EQT Announce Joint Venture To Acquire Lumos
Apr 25, 2024 7:22 AM

April 25 (Reuters) - T-Mobile US Inc ( TMUS ):

* T-MOBILE AND EQT ANNOUNCE JOINT VENTURE TO ACQUIRE LUMOS

AND

BUILD OUT THE UN-CARRIER'S FIRST FIBER FOOTPRINT

* T-MOBILE US INC ( TMUS ): T-MOBILE IS EXPECTED TO INVEST

APPROXIMATELY

$950 MILLION IN JV TO ACQUIRE A 50% EQUITY STAKE AND ALL

EXISTING FIBER CUSTOMERS

* T-MOBILE US INC ( TMUS ) - COMBINED INVESTMENTS ARE EXPECTED TO

ALLOW

LUMOS TO REACH 3.5 MILLION HOMES PASSED BY END OF 2028

* T-MOBILE US INC ( TMUS ) - T-MOBILE CONTINUES TO EXPECT TO COMPLETE

ITS

REMAINING AUTHORIZATION FOR SHARE REPURCHASES AND DIVIDENDS IN

2024

* T-MOBILE US INC ( TMUS ): EQT INFRASTRUCTURE VI EXPECTED TO BE

35-40%

PERCENT INVESTED BASED ON TARGET FUND SIZE AND SUBJECT TO

CUSTOMARY REGULATORY APPROVALS

* T-MOBILE: AFTER TRANSACTION CLOSES, LUMOS WILL TRANSITION

TO A

WHOLESALE MODEL WITH T-MOBILE AS ANCHOR TENANT

* T-MOBILE US INC ( TMUS ) - NEXT CAPITAL CONTRIBUTION BY T-MOBILE

OUT OF

ADDITIONAL COMMITMENT OF ABOUT $500 MILLION IS ANTICIPATED

BETWEEN 2027 AND 2028

Source text for Eikon:

Further company coverage:

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