Telekom's T-Mobile Wants Its Own Fiber-Optic Network, Handelsblatt Reports

--Deutsche Telekom's U.S. subsidiary T-Mobile is set for a strategic shift from its focus on mobile communications as it plans to build its own fiber-optic network, German newspaper Handelsblatt reports, citing people at Deutsche Telekom directly or indirectly involved in the decision.

--The German mobile-communications firm is planning a joint venture with partner Lumos Networks, in which T-Mobile intends to invest at least $1 billion, according to the newspaper.

--Initially, the joint venture aims to build fiber-optic connections in Virginia, Handelsblatt says.

--Telekom declined to comment when contacted by Dow Jones Newswires.

Full story in German: https://bit.ly/4aeOZCp

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(END) Dow Jones Newswires

03-15-24 0940ET