T-Mobile and private equity firm TPG are reportedly weighing a bid to carve Uniti Group’s fiber assets, with T-Mobile focusing on the built-out consumer last-mile fiber and TPG seeking wholesale and enterprise fiber assets.
Uniti has spent the past year repositioning around fiber since recombining with Windstream, accelerating fiber builds and migrating customers from copper to fiber networks.
In Uniti’s Q4 2025 results, the company added 28,000 net Kinetic fiber subscribers and passed 80,000 more premises, taking total premises passed to roughly 1.9 million.
Management has described a balanced strategy across retail, wholesale and enterprise, with Kinetic targeting smaller metro footprints while the enterprise and carrier transport business provides long-haul routes and wholesale capacity.
The company operates in about 18 states, with more than half of households in the Southeast and a notable concentration in Tier 2 and Tier 3 markets where competition is lighter.
There has been no formal sale process to date, but Uniti has said it would review unsolicited offers from several parties.
For T-Mobile, acquiring a built fiber last-mile could accelerate fixed broadband ambitions by providing an immediate retail brand and subscriber base, though it would come with legacy copper liabilities and migration challenges as Uniti continues to transition customers to fiber.
TPG’s interest would align with its recent activity in communications infrastructure, following other large-scale fiber and tower opportunities in recent years.
No financial terms have been disclosed, and Uniti’s stock rose about 14% on the market chatter.
Stay tuned for further developments as market chatter grows around Uniti’s fiber assets.
