T-Mobile announced an agreement to purchase Mint Mobile's parent company, Ka’ena, for up to $1.35B.
Mint Mobile, a budget-friendly mobile provider, is partly owned by actor Ryan Reynolds, who is also a spokesperson for the brand.
In addition to Mint, Ka’ena owns the prepaid wireless brand Ultra Mobile amd wireless wholesaler Plum.
- T-Moile said it plans to acquire Ka’ena Corporation for 39% cash and 61% stock. The final price depends on Ka’ena’s performance during a specific time period.
- T-Mobile CEO Mike Sievert confirmed that Mint will maintain its $15 per month pricing.
- He said Mint has built a successful digital and direct-to-consumer business and T-Mobile is "excited" to use its scale and the owners' economics to help supercharge the businesses.
- Reynolds, who has appeared in advertisements for Mint, is believed to own 20% to 25% of the mobile carrier, which would mean a payout in the low nine-figures.
- The actor will "continue on in his creative role on behalf of Mint," according to T-Mobile.
