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T-Mobile and private equity firm TPG are considering a bid to carve up Uniti Group, with T-Mobile targeting the consumer last-mile fibre business and TPG interested in the wholesale and enterprise fibre assets, according to reports.
Uniti has spent the past year repositioning itself around fibre following the recombination with Windstream, accelerating buildouts and shifting customers from legacy copper services to modern fibre networks. Uniti’s Q4 results for 2025 saw the company add 28,000 net Kinetic fibre subscribers and pass an additional 80,000 premises with fibre, bringing total premises passed close to 1.9 million.
Management has emphasised a balanced strategy across retail, wholesale and enterprise lines, with Kinetic focused on smaller metro and suburban footprints while the enterprise and carrier transport business supplies long-haul routes and wholesale capacity. Investor materials highlight a presence across some 18 states, with more than half of households located in the Southeast and a significant concentration in Tier 2 and Tier 3 markets where competition is lighter.
The company has yet to begin a formal sale process, but has said it is open to reviewing interests from several parties.
For T-Mobile, acquiring a built fibre last-mile could fast-track its fixed broadband ambitions and provide a ready retail brand and subscriber base to pair with its wireless services. However, it would also bring substantial legacy copper liabilities and migration challenge, with Uniti currently transitioning some of its customers to its fibre networks.
TPG’s interest, on the other hand, would be consistent with its recent activity in communications infrastructure, having pursued large-scale fibre and tower opportunities in recent years.
No financial details of the potential offers have been revealed.
Nonetheless, the rumour has triggered a sharp uptick in Uniti’s share price, jumping roughly 14% on the news.
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