T-Mobile Snaps Up Mint Mobile For A Cool $1.35B, Ryan Reynolds Pockets $300M

T-Mobile just snagged itself one of the more successful—and probably best marketed—mobile virtual network operators (MVNOs) in the U.S. Mint Mobile is now part of the fastest mobile network thanks to a recent U.S. Federal Communications Commission (FCC) approval that allowed the sale.

Telling everyone that Ryan Reynolds is my co-worker now. Welcome to the fam @Mintmobile pic.twitter.com/t7MMGUKzo2

— T-Mobile (@TMobile) May 1, 2024

T-Mobile has acquired Ka'ena Corporation, which owned properties such as Mint, Ultra Mobile, as well as Plus, in a 61% stock plus 39% cash deal. According to a press release by T-Mobile the deal, amounting to a cool $1.35 billion, was penned and agreed between the two mobile providers in March 2023, but it has taken until now to clear FCC approval. 

According to the agreement, Ka'ena leaders and their teams will be absorbed into the T-Mobile umbrella. This includes Mint founders David Glickman and Rizwan Kassim. Mint will still continue to operate autonomously but will have access to T-Mobile's resources and business model. Even actor Ryan Reynolds, the face and co-owner at Mint, will get to be his funny self in Mint's hilarious marketing ads. As part of the deal, Reynolds is reportedly pocketing $300 million. His personal business advisor will probably get a nice pay raise as well!

In the press release announcing the merge, Reynolds quipped, "I am so proud of the entire Mint Mobile team. Even Gary from Finance who’s been a real stickler over the years". He also added that customers and value will continue to be Mint's priority, now even more so under T-Mobile, "We’ve been able to rapidly grow this brand by putting customers and value first while being unafraid to act quickly and take chances. T-Mobile is the best partner to help us supercharge Mint and we’re grateful for their partnership”.

Mint has assured that its highly-successful $15 per month plan will remain for both new and existing customers. Better yet, Mint subscribers will get to enjoy some T-Mobile features soon, too. In a blog announcement (and email to Mint users), the company says that it will be adding "Scam Screener" this week, whereby "sketchy calls will be identified as such by showing “Scam Likely” on your phone’s caller ID". Coming soon is free roaming in Canada, which gives users 3GB of high-speed date and unlimited talk/text at no additional cost.