Mint Mobile is being sold to T-Mobile with a purchase price of $1.35 Billion while Spokesman and Minority Owner Ryan Reynolds—who has been the face of the upstart wireless provider—appears to be headed for quite the payday.
T-Mobile announced today that it will purchase wireless provider Mint Mobile for up to $1.35 Billion. The acquisition of Mint Mobile’s parent company, Ka’ena Corporation, also includes Ultra Mobile, an international calling service, and wireless wholesaler Plum.
Actor Ryan Reynolds, who purchased a minority ownership stake in Mint Mobile in 2019, appears to be headed for a large payday after the acquisition but will continue in his creative role as a spokesman for Mint. “I only want the best for Mint Mobile customers. Think I’ve found it,” Reynolds wrote on Twitter following the deal’s announcement. “I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. Life is strange, and I’m incredibly proud and grateful.”
When Reynolds bought a stake in Mint, he called the decision “a bit unconventional,” comparing it to other celebrity brands, with “high-end products like skincare brands or delicious gin companies.” The actor-entrepreneur owned around a 25% stake in Mint. This also isn’t the first time Ryan Reynolds has sold an ownership stake for a large payout, as his aforementioned gin company, Aviation Gin, sold for $610 million in 2020.
“Mint Mobile is the best deal in wireless, and today’s news only enhances our ability to deliver for our customers,” Reynolds said in a separate statement. “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. I am so proud of the entire Mint team and so excited for what’s to come.”
T-Mobile said it will maintain Mint Mobile’s current pricing plans, starting at $15 per month. Mint Mobile founders David Glickman and Rizwan Kassim will remain at T-Mobile following the deal’s close to managing the brand.