T-Mobile to Buy Ryan Reynolds’ Mint Mobile – The New York Times

T-Mobile to Buy Ryan Reynolds’ Mint Mobile - The New York Times

T-Mobile announced on Wednesday that it planned to acquire Ka’ena Corporation and its subsidiaries, including Mint Mobile, a cost-friendly, prepaid wireless brand that is partly owned by the actor Ryan Reynolds, in a deal for up to $1.35 billion.

Ultra Mobile, a wireless service that offers international calling, and Plum, a wireless wholesaler, are also part of the deal.

Mint Mobile started in 2016 and gained popularity in recent years among consumers seeking cheaper alternatives to expensive mobile plans. The company offers premium wireless plans for as little as $15 a month and an unlimited plan for $30 a month.

T-Mobile said Mint’s pricing would remain unchanged.

“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliverfor customers,” Mike Sievert, the chief executive of T-Mobile, said in a statement.

Mr. Reynolds, whose acting career started in the 1990s and who is more recently known for his role as Wade Wilson in the “Deadpool” films, purchased an ownership stake in Mint Mobile in 2019, according to Variety.

At the time, he said celebrities typically invest in high-end products like skin care brands or alcohol companies, but that he wanted to champion “a more practical approach to the most essential technology.”

In 2020, Mr. Reynolds and the actor Rob McElhenney purchased Wrexham, a Welsh soccer club, for $2.5 million. Also that year, Diageo, a beverage company, announced that it had acquired Aviation American Gin, a gin company co-owned by Mr. Reynolds, and other spirits brands in a deal for up to $610 million.

“I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile,” Mr. Reynolds said on Twitter on Wednesday. “Life is strange and I’m incredibly proud and grateful.”

This content was originally published here.

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