Actor Ryan Reynolds’ wireless company Mint Mobile sells to T-Mobile for $2 billion #Actor #Ryan #Reynolds #wireless #company #Mint #Mobile #sells #TMobile #billion #englishheadline


Actor Ryan Reynolds will cash in with a major payday after Mint Mobile, a prepaid wireless provider which he owns, was sold to T-Mobile for $2 billion.

On Wednesday, the Deadpool star announced the news to sell Mint in a bid to deliver 5G to a greater number of people, particularly lower-income customers. 

“I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile,” he said.

“Life is strange and I’m incredibly proud and grateful.”

T-Mobile acquired parent company Ka’ena Corporation and its subsidiaries Mint Mobile and Ultra Mobile for US$1.35 billion (AUD$2 billion), which it paid for with 39 per cent cash and 61 per cent stock.

The deal was hailed “complementary” as Mint Mobile already operates on the T-Mobile network, which is the United States’ second largest wireless provider. 

“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 joked.

T-Mobile Chief Executive Mike Sievert said he believed customers “are really going to win with a more competitive and expansive Mint and Ultra”.

The brands’ sales, marketing, digital, and service operations were acquired, with T-Mobile planning to leverage its supplier relationships, distribution scale and “industry-leading” marketing.

“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” Mr Sievert said.

The brands’ creative marketing strategies were pushed by Reynolds when he was first brought in as owner in 2019.

“To keep things above board, I’ll be paying myself $15 a month,” he wrote in a social media post announcing his ownership.

He worked closely alongside Mint founders David Glickman and Rizwan Kassim, and all three will maintain their positions at the company after the merger.

Under the acquisition, Mint and Ultra Mobile will also operate as its own business unit.

Reynolds is also the owner of several other companies, including Aviation American Gin, advertising agency Maximum Effort and football club Wrexham AFC.

English Headline

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