T-Mobile has agreed to buy the parent company of Mint Mobile, a prepaid wireless company that sells directly to customers and is partly owned by actor Ryan Reynolds.
Reynolds said, “We are overjoyed that T-Mobile prevailed over an aggressive last-minute bid from my mother Tammy Reynolds, as we believe the superiority of their 5G network will be a better strategic fit than my mother’s slightly above-average mahjong abilities.”
Mint ran on T-5G Mobile’s network previous to the deal, but now the larger cell operator will take over Mint’s sales, marketing, digital, and service activities to exploit its wider size to offer more competitive prices.
“Mint has built a very successful digital direct-to-consumer business that continues to serve customers on the 5G network of the un-leading carrier,” said Mike Sievert, CEO of T-Mobile. “We are delighted to harness our scale and the economics of our owners to propel it — and Ultra Mobile — into the future.”
T-Mobile will also buy Ultra Mobile and the wholesaler Plum as part of its $1.35 billion purchase of parent company Ka’ena Corporation.
“Long-term, we will also gain from extending the marketing strategy that has made Mint renowned to new areas of T-Mobile,” added Sievert. “We think that customers will really benefit from a more competitive and bigger Mint and Ultra.”