Telecommunications giant T-Mobile announced it will be buying cell service provider Mint Mobile — which is partially owned by Ryan Reynolds in a $1.35 billion deal. The cash-and-stock deal also includes two other brands.
In a statement from T-Mobile CEO Mike Sievert, his company would use its size and resources to “supercharge” Mint, which uses T-Mobile’s wireless network and offers plans for as little as $15 per month.
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” he added.
Reynolds said that the deal would benefit Mint Mobile customers due to T-Mobile’s excellent 5-G network.
“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,” Reynolds said.
In the deal, T-Mobile will also buy Ka’ena Corp., the parent company for Mint Mobile, a wireless service specializing in international calls named Ultra Mobile and wireless wholesaler Plum.
The deal is expected to be concluded before the end of the year. The contract also permits Mint to continue using T-Mobile’s network.
Reynolds will also continue on in his creative role for Mint, and Mint founders David Glickman and Rizwan Kassim will continue to operate the brands as a mostly separate business unit, T-Mobile said.