T-Mobile has announced that it will acquire budget-friendly mobile operator Mint Mobile, partially owned by Ryan Reynolds, for $1.35 billion. It is an unexpected situation that Mint Mobile, which Ryan Reynolds bought in 2019, provides such a profit to its investor.T-Mobile acquires Mint Mobile
T-Mobile announced in a blog post that it has entered into an agreement to acquire Mint Mobile’s parent company, Ka’ena, for $1.35 billion in cash and stock. It is said that 39 percent of the payment will be met in cash and 61 percent in combination of stocks. T-Mobile expects the deal to be completed later this year. On the other hand, this purchase is not a sudden decision, of course. In January, T-Mobile is said to have begun considering the acquisition of Mint Mobile.
Mint Mobile does not have any physical retail stores, as its businesses operate entirely online. Essentially, Mint is a mobile virtual network operator on the T-Mobile network. Following the conclusion of the deal, Mint founders David Glickman and Rizwan Kassim will remain with T-Mobile to manage their brands. On the other hand, owner Ryan Reynolds will continue his “creative” role for Mint and assist T-Mobile with marketing issues, possibly as a commercial face.
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