- T-Mobile is purchasing budget-friendly mobile virtual network operator, Mint Mobile, which is partially owned by Ryan Reynolds, for $1.35 billion.
- The actor will continue serving as Mint Mobile’s brand ambassador, and the company will operate as a separate business unit for now.
- T-Mobile also announced that it is buying Ultra Mobile and Plum, which are subsidiaries of Ka’ena Corporation, as part of the same deal.
Giant mobile carrier T-Mobile is buying Mint Mobile, which is partially owned by Ryan Reynolds, for $1.35 billion. The sales will include 39 per cent cash and 61 per cent stock for the owners.
Mint Mobile is a budget-friendly mobile virtual network operator that works with both physical SIM card and eSIM in the United States. It is owned by the Deadpool star and David Glickman, who also founded it.
The acquisition comes at the same time that T-Mobile announced that it is buying Ultra Mobile and Plum as well with the same deal as they are all subsidiaries of Ka’ena Corporation.
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Ryan Reynolds will continue serving as Mint Mobile’s brand ambassador and other key people like Glickman and managing partner Rizwan Kassim will continue to manage the company. Essentially, it will operate as a separate business unit for now.
In addition, T-Mobile will still maintain the affordable phone plan that the company offered, which goes as low as $15 per month.
Reynold’s creative approach to marketing of his Marvel movie had first endeared him to Glickman and it is also a major reason why T-Mobile is making the acquisition.
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra,” T-Mobile CEO Mike Sievert had said.
The deal is set to be completed later this year but given T-Mobile’s reputation, it could be subject to regulatory scrutiny.
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