T-Mobile is set to buy budget wireless provider, Mint Mobile, which Ryan Reynolds has a minority ownership stake since 2019, for $1.35 billion, T-Mobile announced on Wednesday.
Reynolds will stay on in his creative role on behalf of Mint, serving as a spokesperson, as mentioned in a press release to announce the deal.
“I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile,” said Reynolds in a tweet on Wednesday.
Reynolds did not think of his decision to buy his Mint stake as conventional, but said he is now incredibly proud and grateful.
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. #MintMobile
— Ryan Reynolds (@VancityReynolds) March 15, 2023
T-Mobile wants to boost its own prepaid services with the Mint acquisition, keeping Mint’s $15 per month plan the same, with the brand’s two founders managing the separate business unit, said CEO Mike Sievert with Reynolds in a YouTube video.
“Over the long-term, we will also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile”, Sievert added.
The Mint Mobile parent, Ka’ena Corporation’s acquisition will also include international calling service, Ultra Mobile, and wireless wholesaler, Plum.
The deal is set to close later this year, with the price finalised based on Ka’ena’s performance.