T-Mobile will buy Ryan Reynolds-backed Mint Mobile for up to $1.35 billion

Barely three and a half years after Ryan Reynolds bought into Mint Mobile and became the public face of the provider, Deadpool star is set to get a windfall from his investment. T-Mobile has announced a deal to buy Mint Mobile’s parent company Ka’ena for as much as $1.35 billion in cash and stock.

The final price will depend on Ka’ena’s performance for a certain period before and after the deal closes, which is expected to happen later this year. Ka’ena also owns Ultra Mobile, a provider focused on international calls, and wholesaler Plum.
Reynolds is believed to own between 20 and 25 percent of Mint, according to a 2021 report by New York Post. He will remain in his creative role as a Mint spokesperson. Mint was founded in 2015 and spun off from Ultra in late 2019.

Running on T-Mobile since its inception as a mobile virtual network operator, Mint found success thanks to its charismatic pitchman and budget-conscious pricing. T-Mobile CEO Mike Sievert confirmed in a YouTube video regarding the news that Mint will retain its $15 per unit price. month.

T-Mobile said in a statement that Mint and Ultra will complement its existing prepaid services. Mint founders David Glickman and Rizwan Kassim will continue to manage the brands, which T-Mobile says will generally operate as a separate business unit. Meanwhile, T-Mobile hopes to capitalize on the marketing savvy of Mint and its famous co-owner.

“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver to customers on the Un-carrier’s industry-leading 5G network, and now we’re excited to use our scale and owners’ finances to help supercharge it — and Ultra Mobile — into the future,” Sievert said. “In the long term, we will also benefit from applying the marketing formula that Mint has become famous for across multiple parts of T-Mobile.”

“Mint Mobile is the best deal in wireless, and today’s news only enhances our ability to deliver for our customers,” said Reynolds. “We are so pleased that T-Mobile made an aggressive last minute bid from my mother Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mother’s slightly above average mahjong skills.”

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