T-Mobile acquires Ryan Reynolds’ Mint Mobile for $1.35B

T-Mobile, a mobile telecommunication company, is reportedly acquiring Mint Mobile LLC, a mobile virtual network operator in the United States owned by Hollywood actor, Ryan Reynolds.

T-Mobile said on Wednesday, March 15, that it would buy Mint Mobile, which is known as a budget wireless mobile provider. The company is ready to sign s $1.35 billion deal for the takeover.

It was added that the acquisition of Mint Mobile’s parent company, Ka’ena Corporation, will also include the international calling service Ultra Mobile and Plum wireless wholesaler. According to CNN Business, Reynolds bought a minority ownership stake in Mint Mobile in 2019, and after T-Mobile’s takeover, he will still stay in the company in his current creative role on behalf of the virtual network service operator.

At any rate, the Hollywood star shared that when he purchased a stake in Mint Mobile, his decision at that time was a bit unconventional. He explained that this is because most celebrities invest in high-end products such as skincare brands or alcoholic beverages but he chose a mobile company that was only launched in 2016.

T-Mobile’s chief executive officer, Mike Sievert, said in a press release, "Over the long-term, we will also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile and we think customers are really going to win with a more competitive and expansive Mint and Ultra."

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

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