Actor Ryan Reynolds’ Mint Mobile sells to T-Mobile in $1.3B deal

Ryan Reynolds, the actor and producer, has closed his first billion-dollar deal as Mint Mobile, a wireless firm in which he holds a minority ownership, has been acquired by T-Mobile. The deal could potentially value the startup at $1.35 billion, with T-Mobile paying 39 percent in cash and 61 percent in stock. It remains unclear how much Reynolds will earn from the deal, but it is estimated that he owns between 20-25 percent of Mint Mobile, which could result in a low nine-figure payout for him.

In a statement released on Wednesday, Reynolds expressed his happiness with the deal, saying that Mint Mobile is the best deal in wireless and that T-Mobile’s excellence in 5G network will provide a better strategic fit for the company. He also joked about his mother’s last-minute bid for the company, saying that he was glad T-Mobile beat her out as his mother’s mahjong skills were only slightly above average.

T-Mobile is also acquiring Ultra Mobile, which provides international calling options to customers, and Plum, a wireless wholesaler. All three companies were owned by Ka’ena Corp, and will be run as their own business unit with David Glickman and Rizwan Kassim as their founders.

©2023 Cox Media Group