The two most sarcastic carriers are joining forces. In a surprise video announcement, Ryan Reynolds says that Mint Mobile will be acquired by T-Mobile. He was joined by T-Mobile CEO Mike Sievert to celebrate the $1.3 billion deal, and naturally, the pair cracked a few jokes.
More specifically, T-Mobile will purchase Ka’ena Corp, the owner of Mint Mobile, Ultra Mobile (an international carrier), and Plum (a wireless wholesaler). All three of these companies are MVNOs, meaning that they don’t own any cellular infrastructure. Instead, they rent networking capacity from T-Mobile—this acquisition isn’t much of a surprise.
The acquisition of Ka’ena Corp will cost an estimated $1.3 billion, though the exact number will depend on market performance at the date of the deal’s closure. In theory, this is Ryan Reynold’s most lucrative deal to date—he owns an estimated 20% to 25% of the company. Previously, Reynolds sold Aviation Gin for $610 million.
As you can probably guess, Ryan Reynolds will continue as Mint Mobile’s spokesperson (just as he has with Aviation Gin). And T-Mobile promises to maintain Mint Mobile’s affordable pricing. The cheapest $15 monthly plan will stay, at the very least.
Note that this acquisition is not finalized. And because T-Mobile is the second-largest U.S. carrier, this deal may become the subject of an antitrust suit (after all, T-Mobile is buying three MVNOs). For what it’s worth, T-Mobile was only allowed to acquire Sprint after divesting some of the company’s prepaid subsidiaries, including Boost Mobile and Virgin Mobile.
Source: T-Mobile via Ryan Reynolds