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T-Mobile to buy Mint Mobile parent for up to $1.35B

Mar 15, 2023

Ryan Reynolds. Photo: Alex Livesey/Danehouse/Getty Images

T-Mobile will acquire Mint Mobile parent company Ka'ena Corporation for as much as $1.35 billion, the company announced Wednesday.

Why it matters: Partly owned and popularized by actor Ryan Reynolds, Mint Mobile is a budget wireless provider that will help expand T-Mobile's customer base.

Details: Ka'ena's brands also include Ultra Mobile, a wireless service offering specializing in international calling, and Plum, a wholesale wireless solutions provider.

  • T-Mobile said it will pay up to $1.35 billion in a combination of 39% cash and 61% stock. The actual price depends on Ka'ena's performance.
  • Mint founders David Glickman and Rizwan Kassim will remain at T-Mobile to manage the brands. Reynolds will keep his creative role for Mint.
  • T-Mobile said it expects the deal to close later this year.

Of note: As Reynolds noted in a YouTube video about the news, Mint has run on T-Mobile's cellular network since its inception.

  • T-Mobile CEO Mike Sievert said in the same video that it will keep Mint's $15 per month pricing.
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