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Fiber is the new frontier
T-Mobile isn’t just selling you a phone plan anymore. It’s trying to become the company that powers your Wi‑Fi, too. On Tuesday, the carrier said it’s teaming up with Oak Hill Capital and Wren House in two separate 50/50 joint ventures to buy fiber assets and bulk up its next-generation home internet business.
Two deals, one big broadband flex
The first JV pairs T-Mobile with Oak Hill to combine GoNetspeed and Greenlight Networks. The goal: expand T-Fiber across Northeastern markets like New York, New Jersey, Massachusetts, and more, with the network expected to reach more than 1.3 million homes passed by the end of 2026.
The second JV links T-Mobile with Wren House to acquire i3 Broadband, adding another fiber-to-the-premises platform in markets including Missouri, Illinois, and Rhode Island. That network is expected to reach around 500,000 homes passed by the end of 2026.
Why investors care
This is classic T-Mobile: spend now, brag later. The company is still in the middle of a longer-term transformation, and fiber gives it a way to chase steadier broadband revenue instead of living and dying by the wireless upgrade cycle. Management says these deals support a goal of 18–19 million broadband customers by 2030, including 3–4 million fiber subscribers.
At the same time, this isn’t free candy. T-Mobile plans to invest about $2 billion for the Oak Hill JV stake and roughly $700 million for the Wren House deal, so the market has to balance growth ambition against capital intensity. Big picture: T-Mobile is betting that if you can own the pipe into the home, you can own more of the relationship — and maybe more of your monthly bill, too.