T Mobile buys Ryan Reynolds Mint Mobile in a $1.35 Billion Deal

By TH Team  16/03/2023

T-Mobile is acquiring budget cell service provider Mint Mobile in a cash-and-stock deal worth $1.35 billion.

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Mint Mobile is known for its low-priced plans, some as little as $15 per month, and for its commercials featuring actor and part-owner Ryan Reynolds.

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T-Mobile plans to "supercharge" Mint using its size and resources, and to apply Mint's marketing formula across more parts of T-Mobile.

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Reynolds joked about the deal, saying T-Mobile's 5G network was a better strategic fit than his mother's "slightly-above-average mahjong skills."

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T-Mobile CEO Mike Sievert said the company would continue to offer Mint's $15 per month pricing.

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The deal includes two other brands: Ultra Mobile, which specializes in international calls, and Plum, a wireless wholesaler.

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Reynolds will continue in his creative role for Mint, and the company's founders will operate the brands as a mostly separate business unit.

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The deal is expected to close later this year.

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Mint will be permitted to continue using T-Mobile's network.

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T-Mobile's acquisition of Mint Mobile is part of its ongoing expansion and effort to compete with other telecommunications giants in the US.

Image Source: Google

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