According to reports, the actor-entrepreneur possesses roughly a quarter of the Mint prepaid wireless brand.
T-Mobile has acquired Mint Mobile, a prepaid wireless brand in that actor-entrepreneur Ryan Reynolds has a minor stake, for a sum of up to $1.35 billion. The deal involves the acquisition of Ka’ena Corp. and its subsidiaries, including Mint Mobile, Ultra Mobile, and Plum. T-Mobile plans to utilize Mint’s direct-to-consumer marketing expertise to expand its customer base and reach new markets. The transaction is expected to be finalized later this year.
After the completion of the acquisition, the founders of Mint Mobile, David Glickman, and Rizwan Kassim, will stay at T-Mobile to oversee the brands, which will operate as a distinct business unit. Ryan Reynolds will maintain his position as a creative spokesperson for Mint, as he holds around 25% of the company, according to Bloomberg, which previously covered the discussions between Mint and T-Mobile.
In a statement, Ryan Reynolds expressed his delight at the news of T-Mobile’s acquisition of Mint Mobile, stating that it further strengthens their ability to provide excellent service to their customers. He also humorously mentioned that T-Mobile outbid his mother, Tammy Reynolds, who made a last-minute offer, but T-Mobile’s 5G network was a better fit than his mother’s above-average mahjong skills. Reynolds also expressed his pride in the Mint team and his excitement for the future.
T-Mobile has announced that it will maintain the current pricing plans of Mint Mobile, which offer unlimited talk and text and up to 4GB of data per month for a starting price of $15 per month.
The acquisition of Ka’ena, which includes Mint Mobile, Ultra Mobile, and Plum, will cost T-Mobile up to $1.35 billion, with 39% paid in cash and 61% in stock. The final amount paid by T-Mobile will be determined by Ka’ena’s performance before and after the closing, as well as other contractual adjustments. However, T-Mobile expects that the transaction will not affect its financial guidance or ongoing stock repurchase program for 2023.
T-Mobile CEO Mike Sievert announced the acquisition of Mint Mobile, praising the company for its successful direct-to-consumer business that continues to provide excellent service on T-Mobile’s 5G network. Sievert expressed excitement about using T-Mobile’s resources to further enhance the Mint and Ultra Mobile brands.
Actor-entrepreneur Ryan Reynolds also shared a video produced by his Maximum Effort advertising and production company on social media. The video features Sievert, and Reynolds jokingly refers to him as his new dad after embracing him at the end of the clip.