T-Mobile (NASDAQ: TMUS) has sold its wireline business to Cogent Communications Holdings, Inc. for one dollar, as it focuses on its core business of consumers and enterprise wireless. Cogent will receive 20,000 route miles of fiber and 1,400 enterprise customers in the deal. T-Mobile said it expected to record a pre-tax charge of about $1 billion in the third quarter of 2022, according to Reuters.
In addition to the fiber transport network and related assets and customers, Cogent will acquire certain liabilities associated with the business, as part of the agreement. The companies will also enter into a separate agreement where Cogent will sell IP transit services to T-Mobile at a discount for 54 months. Continue Reading |
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