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Amrita Khalid
T-Mobile wants to buy the fiber optic company Lumos.

Ahead of its earnings call today, T-Mobile announced a new joint venture with Swedish investment firm EQT to buy Lumos Fiber, which reaches over 350,000 households.

Once the deal closes, T-Mobile will invest $950 million for a 50 percent stake in Lumos and acquire all of its existing fiber customers, with plans to expand even further. The T-Mobile Fiber network is currently in 16 markets.

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