A famous rich person named Ryan Reynolds just became a whole lot richer today by selling Mint Mobile, a lower-priced wireless provider, to mobile giant T-Mobile in a deal estimated to be worth upwards of $1 billion. Reynolds owns about a quarter of Mint Mobile and stands to make around $337 million from the sale.
T-Mobile is acquiring Ka’ena Corporation, per Forbes, which is an umbrella corp for not only Mint Mobile but Ultra Mobile and Plum as well. Reynolds is an ongoing spokesman for Mint Mobile and will continue to be so, according to reports.
T-Mobile will pay for the deal with a mix of 39 percent cash and 61 percent stock. Reynolds revealed the deal in a predictably tongue-in-cheek statement. Via The Hollywood Reporter:
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers. 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 CEO Mike Sievert, the guy who wears magenta a lot, said he wants to bring the scrappy Mint mentality to T-Mobile.
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
Reynolds is no stranger to successful businesses. He sold his Aviation Gin brand to Diageo for $600 million in 2020.
