TMUS quick take: acquiring stake in Metronet
T-Mobile announced that they are acquiring a 50% stake in a JV that has been set up to acquire Metronet. They will also acquire all of Metronet’s retail operations. Metronet will become a wholesale operator, like Gigapower and Lumos. We cover details of the Metronet assets and who they compete against, implications for the convergence theme, implications for fiber valuations, implications for T-Mobile repurchases, implications for the T-Mobile investment case, and implications for the Frontier investment case in the brief note.T-Mobile US provides mobile communications services, including voice, messaging and data, under its brands, T-Mobile and Metro? by T-Mobile, in the United States, Puerto Rico and the United States Virgin Islands. The company provides mobile communications services using its 4G Long-Term Evolution network and its 5G technology network. The company also provides various wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through Equipment Installment Plans and leasing through JUMP! On Demand?. The company provides reinsurance for handset insurance policies and extended warranty contracts offered to its mobile communications customers.
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