T‑Mobile US announced the creation of two 50/50 joint ventures that will acquire a combined portfolio of fiber assets worth $2.7 billion. The first partnership, with Oak Hill Capital, will acquire GoNetspeed and Greenlight Networks, while the second, with Wren House, will acquire i3 Broadband. The Oak Hill joint venture is expected to invest approximately $2 billion, and the Wren House joint venture will invest about $700 million, bringing the total commitment to $2.7 billion.
The acquisitions will add thousands of miles of fiber and serve more than 1 million additional homes nationwide. The GoNetspeed and Greenlight Networks platform is projected to pass over 1.3 million households by the end of 2026, while i3 Broadband is expected to reach roughly 500,000 households in the same period. These additions will significantly expand T‑Mobile’s fiber footprint and provide a high‑capacity, low‑latency backbone for both residential and business customers.
The joint ventures are designed to complement T‑Mobile’s fast‑growing 5G and Fixed Wireless Access (FWA) businesses. By leveraging Oak Hill Capital’s and Wren House’s expertise in fiber deployment, T‑Mobile can accelerate the rollout of its SuperBroadband and other high‑speed internet offerings, positioning the carrier to capture a larger share of the broadband market and to offer bundled wireless and wired services that increase average revenue per user.
The Oak Hill joint venture is expected to close in the first half of 2027, while the Wren House joint venture is slated to close in the second half of 2026. Management has indicated that the fiber deals will be reflected in Q1 2026 earnings as a softer outlook due to elevated operating expenses and one‑time charges, but the long‑term benefits are expected to outweigh the short‑term impact.
André Almeida, Chief Broadband, Enterprise and Emerging Business Officer, said, "These partnerships are about expanding access to high‑performance fiber for more customers. We've built strong momentum in fiber, and these JVs allow us to scale faster by combining leading fiber operators with T‑Mobile's brand, distribution and customer experience to meet growing demand for fast connectivity options." Scott Baker, Managing Partner at Oak Hill, added, "We are excited to partner again with T‑Mobile in this new joint venture that builds on our shared conviction in the expansion of high‑quality digital infrastructure, positioning GoNetspeed and Greenlight to accelerate fibre‑to‑the‑premises construction and deliver reliable, high‑speed connectivity to underserved communities."
T‑Mobile’s fiber strategy aligns with its broader goal of serving 18 million to 19 million broadband customers by 2030, including 3 million to 4 million fiber customers. The joint ventures provide a capital‑efficient path to scale fiber without the full burden of building out all infrastructure, reinforcing the carrier’s competitive moat and supporting its transition to a comprehensive connectivity provider.
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