T-Mobile will buy Ryan Reynolds-backed Mint Mobile for up to $1.35 billion

T-Mobile has announced that it will be acquiring Mint Mobile, a wireless carrier that offers affordable prepaid plans in the United States. The deal, which is backed by Ryan Reynolds, is expected to be worth up to $1.35 billion.

Mint Mobile was founded in 2016 and has quickly gained popularity among consumers due to its low-cost plans and high-quality service. The company offers a range of prepaid plans, including a popular three-month plan that costs just $15 per month.

Ryan Reynolds, who is best known for his acting career, became a co-owner of Mint Mobile in 2019. Since then, he has been involved in the company’s marketing efforts, including a series of humorous ads that have helped to raise the company’s profile.

The acquisition of Mint Mobile is a significant move for T-Mobile, which is looking to expand its customer base and increase its revenue streams. T-Mobile has been aggressively pursuing acquisitions in recent years, including its merger with Sprint in 2020.

With the addition of Mint Mobile, T-Mobile will be able to offer its customers a wider range of prepaid plans and potentially attract more budget-conscious consumers who are looking for affordable wireless options. T-Mobile has said that it will continue to operate Mint Mobile as a separate brand, which will retain its existing management team and business model.

Ryan Reynolds, who is also known for his entrepreneurial ventures, has expressed his excitement about the acquisition. In a statement, he said, “We’re excited to join forces with T-Mobile to bring even more value to consumers. Mint Mobile has always been about providing affordable wireless options without compromising on quality, and this partnership will help us take that mission to the next level.”

The acquisition is expected to close in the second quarter of 2021, subject to regulatory approval. T-Mobile has said that it expects the deal to be accretive to its earnings per share in the first full year after closing.

In conclusion, T-Mobile’s acquisition of Mint Mobile represents a significant move in the wireless industry. The deal will allow T-Mobile to expand its customer base and offer more affordable wireless options to consumers. It also demonstrates the increasing importance of prepaid wireless plans in the competitive wireless market, and the potential for celebrity-backed companies to attract investor interest.